US federal agencies to report crypto holdings to Treasury by April 7

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The story "US federal agencies to report crypto holdings to Treasury by April 7" was covered 11 hours ago by Coin Telegraph, a news publisher based in United States.

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Coin Telegraph 11h ago

US federal agencies to report crypto holdings to Treasury by April 7 - Coin Telegraph

Quick Summary:

The official said the BTC sold by the US government could’ve gone for billions if it had only held on to the assets. The reserve will initially be seeded by the BTC kept by the Treasury, while the other federal agencies would “evaluate their legal authority” to transfer their BTC into the reserve. Regarding the digital asset stockpile, Sacks said it would promote “responsible stewardship” of the government's crypto assets under the Treasury.

White House AI and crypto czar David Sacks described the reserve as a “digital Fort Knox for the cryptocurrency,” saying that the US will not sell any BTC held in the reserve.“It will be kept as a store of value,” Sacks added.

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