White House AI and Crypto Tsar David Sacks says that the assessment of Potential Bitcoin Reserve is a top priority for the Trump administration.
During a press conference with Republican legislators, Sacks said that the new working group of the president on digital assets will first consider whether the US government should keep Bitcoin as strategic reserve -resistant.
“One of the things that the president instructed us to do was the idea of evaluating a Bitcoin reserve. So that is one of the first things we will look at as part of the internal working group of the administration. So as soon as we set it all – we still wait for a few cabinet secretaries who are at the working group to be confirmed.
So we are still in the very early stages of this. But that is one of the first things we will look at is the feasibility of a Bitcoin reserve. I think the concept of the sovereign wealth fund is a bit separate. “
On the campaign track, Trump said that his administration would stop selling his corresponding bitcoin on the open market and instead strategically keep it active as an investment. And at the end of last month, Trump signed an executive order to evaluate the establishment of a national strategic stock that could include both Bitcoin and other non -mentioned crypto assets.
During today’s conference, legislators also asked questions about efforts in the congress to set up a clear framework for digital assets.
A new proposal from the Republican Senator Bill Hagerty, the Guiding and Sturing National Innovation in US Stablecoins (Genius) ACT is intended to clearly define Stablecoins and demand that they provide them with controlled reports and meet the requirements of the capital reserve.
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Featured image: Shutterstock/Gorodenkoff/Deepme