Svmuu News: According to Bloomberg, the Strategic Bitcoin Reserve plan promoted by U.S. President Donald Trump is facing legal and jurisdictional issues, with the core dispute centered on whether the U.S. Treasury Department has the legal authority to manage the reserve. Early in his
Donald Trumpterm, he proposed establishing a Strategic Bitcoin Reserve, with the primary source of funding coming from Bitcoin already held by the U.S. government through criminal or civil forfeiture, and the creation of a separate digital asset inventory.The relevant executive order also requires the Treasury Department and the Department of Commerce to develop a “budget-neutral” Bitcoin acquisition strategy, meaning it must not increase costs to taxpayers.
However, sources familiar with the matter say that discussions surrounding the reserve have now shifted to whether it should be placed under the Department of Commerce rather than managed by the Treasury Department.Another point of contention is whether the U.S. government can hold BTC “indefinitely,” given the price volatility of Bitcoin.
White House spokesperson Liz Huston stated that the Donald Trump administration is still evaluating the optimal structure for the strategic Bitcoin reserve and the U.S. digital asset stockpile to realize its vision of making the United States a global hub for cryptocurrency and cutting-edge technology. (The Block)