US Treasury and Commerce Clash Over Bitcoin Reserve Control
According to Bloomberg, the US Treasury and Commerce departments are at odds over which agency should oversee the proposed strategic Bitcoin reserve, with sources citing legal concerns about Treasury's authority over volatile digital assets.
The US Treasury and Commerce departments have reportedly failed to reach an agreement on which agency should control the nation's proposed strategic Bitcoin reserve, according to Bloomberg, citing anonymous sources. The disagreement stems from concerns over whether the Treasury has the legal authority to manage highly volatile digital assets.
White House spokesperson Liz Houston confirmed that the Trump administration is still evaluating the optimal structure for the strategic Bitcoin reserve and the broader digital asset stockpile. "To realize the president's vision, the administration continues to evaluate the best structure for the strategic Bitcoin reserve and the US digital asset stockpile," Houston stated.
Currently, no final decision has been made, and the interagency debate highlights the regulatory and legal complexities surrounding government-held crypto assets.
Source: ForkLog