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US Congress pushes for Bitcoin reserve research, requires Treasury Department to submit feasibility report within 90 days
Summary: According to reports, US Congressman David P. Joyce has submitted a funding bill requiring the Treasury Department to submit a feasibility and technical considerations report on strategic Bitcoin reserves and digital asset reserves within 90 days of the bill taking effect. The report will cover custody methods, legal authorization, network security measures, interdepartmental transfers, presentation ...
According to reports, US Congressman David P. Joyce has submitted a funding bill requiring the Treasury Department to submit a feasibility and technical considerations report on strategic Bitcoin reserves and digital asset reserves within 90 days of the bill taking effect. The report will cover custody methods, legal authorization, network security measures, interdepartmental transfers, presentation of assets on the Treasury Department's balance sheet, and third-party custodians. The report will also assess implementation barriers and the impact on the Treasury's forfeiture fund. In March of this year, President Trump signed an executive order establishing strategic Bitcoin reserves and digital asset reserves. Treasury Secretary Scott Bessent has stated that they are exploring a 'budget-neutral' approach to expand Bitcoin reserves. Currently, global Bitcoin reserves exceed 517,000 coins, accounting for 2.46% of the total supply. (cointelegraph)
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