President Trump’s executive order to create a strategic Bitcoin reserve has run into legal and bureaucratic hurdles, as multiple federal departments seek control over the proposed crypto stockpile.
How Will The Government Structure Bitcoin Reserves?
The Trump administration is weighing how to structure the reserve after concerns emerged over whether the U.S. Treasury Department has the legal authority to manage the Bitcoin (CRYPTO: BTC) holdings, Bloomberg reported on Monday, citing people familiar with the matter.
The reserve was designed to hold Bitcoin seized by federal agencies, with the possibility of future budget-neutral purchases.
However, the Commerce Department has emerged as a possible alternative home for the reserve, while the Justice Department’s Office of Legal Counsel is working with Treasury and Commerce to review legally available options.
