US Lawmakers Propose Bill for Strategic Bitcoin Reserve Report
- A new House bill directs the US Treasury to assess the feasibility of a strategic Bitcoin reserve.
- The report must cover custody, legal authority, and cybersecurity measures for digital assets within 90 days of enactment.
- Introduced by Representative David P. Joyce, the bill also addresses interagency transfers and third-party custody contractors.
- In March, an executive order was signed to establish a strategic Bitcoin reserve using confiscated crypto assets.
- Currently, over 517,000 BTC are held in national reserves globally, representing about 2.46% of Bitcoin’s total supply.
This legislative effort highlights the growing interest in establishing a formal framework for Bitcoin reserves among governments. The outcome could influence how digital assets are managed at the federal level.
If passed by the House and Senate, this bill could significantly shape US policy on cryptocurrency management within three months of enactment.(Source)
