US Congress seeks report ironing out details of Bitcoin reserve

If enacted, the Treasury Department will be required to produce a report on how the US strategic Bitcoin reserve would be custodied and kept safe.

US lawmakers have introduced a bill directing the US Treasury to examine and produce a report on the feasibility and technical considerations of a strategic Bitcoin reserve and US digital asset stockpile.

The House appropriations bill, introduced on Friday by Representative David P. Joyce, contains two sections that direct the Treasury Department to present a report on the feasibility, custody, legal authority, and cybersecurity measures for digital assets held by the federal government within 90 days of the bill’s enactment.

The bill also asks the agency to lay out its plan for interagency transfers, how the assets will be represented under the federal government’s balance sheet, and all third-party contractors that may be responsible for the custody of the assets.

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