Why Doesn’t the U.S. Have a Bitcoin Reserve, Yet?
The post Why Doesn’t the U.S. Have a Bitcoin Reserve, Yet? appeared on BitcoinEthereumNews.com. President Donald Trump sent a rush of excitement through the crypto industry when he ordered his administration to get to work on setting aside cryptocurrencies as a long-term investment for the U.S. government. But there’s been little to see from that effort, so far, and the officials behind the work seem to be suggesting the wait could be considerable. Trump’s March directive to get started on the stockpile carried a now-expired deadline for the Treasury Department to figure out how to actually set up the reserves for the bitcoin and other crypto assets the government has at its disposal. By now, the administration is supposed to have a plan for the “accounts in which the Strategic Bitcoin Reserve and United States Digital Asset Stockpile should be located and the need for any legislation to operationalize any aspect of this order,” according to the president’s directive, which called for two separate heaps of crypto — one for bitcoin only and the other for all other digital assets. Such a plan hasn’t yet been revealed by Trump’s chief crypto advisers, including Bo Hines, who pointed out last week that “there’s nothing in the [executive order] that mandates that report becomes public,” Hines said of the document that was due in early May, though he added that the administration could “choose to make it public at some point.” But Hines offered some update of the government-wide audit that aimed to figure out what assets the various federal agencies — including the U.S. Marshals Service — had gathered from civil and criminal seizures. “They have received the numbers from the different entities inside the government,” he told reporters at an event on Capitol Hill, referring to Trump’s requirement that federal agencies report their crypto holdings to the Treasury by early April. “Now the process…
The post Why Doesn’t the U.S. Have a Bitcoin Reserve, Yet? appeared on BitcoinEthereumNews.com.
President Donald Trump sent a rush of excitement through the crypto industry when he ordered his administration to get to work on setting aside cryptocurrencies as a long-term investment for the U.S. government. But there’s been little to see from that effort, so far, and the officials behind the work seem to be suggesting the wait could be considerable. Trump’s March directive to get started on the stockpile carried a now-expired deadline for the Treasury Department to figure out how to actually set up the reserves for the bitcoin and other crypto assets the government has at its disposal. By now, the administration is supposed to have a plan for the “accounts in which the Strategic Bitcoin Reserve and United States Digital Asset Stockpile should be located and the need for any legislation to operationalize any aspect of this order,” according to the president’s directive, which called for two separate heaps of crypto — one for bitcoin only and the other for all other digital assets. Such a plan hasn’t yet been revealed by Trump’s chief crypto advisers, including Bo Hines, who pointed out last week that “there’s nothing in the [executive order] that mandates that report becomes public,” Hines said of the document that was due in early May, though he added that the administration could “choose to make it public at some point.” But Hines offered some update of the government-wide audit that aimed to figure out what assets the various federal agencies — including the U.S. Marshals Service — had gathered from civil and criminal seizures. “They have received the numbers from the different entities inside the government,” he told reporters at an event on Capitol Hill, referring to Trump’s requirement that federal agencies report their crypto holdings to the Treasury by early April. “Now the process…
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