Bitcoin Strategic Reserve Plan Still in Progress
Patrick Witt, director of crypto initiatives at the White House, recently shared that despite legal and regulatory hurdles, the U.S. government is still working to establish a strategic Bitcoin reserve. The goal is to strengthen the country's position in the evolving digital currency landscape.
Interagency Coordination Proves Challenging
Multiple federal agencies, including the Department of Justice and the Office of Legal Counsel, are currently debating the legal framework for the reserve. Progress has been slow due to complex legislation and the need for consensus across departments.
Confiscated Bitcoin Will Not Be Sold
In a recent development, the U.S. government confirmed that Bitcoin seized from the developers of Samourai Wallet will not be liquidated. These assets will instead remain on the government's balance sheet as part of a potential national digital reserve.
- The Bitcoin reserve plan remains high on the agenda
- Officials are working to align positions across agencies
- Seized Bitcoin is being held as part of strategic digital asset reserves