US lawmakers have introduced a bill directing the US Treasury to examine and produce a report on the feasibility and technical considerations of the Strategic Bitcoin Reserve and US digital asset stockpile that President Donald Trump has ordered created.
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.
It also requires the Treasury Department to lay out any potential hurdles to its implementation and gauge the impact the reserve will have on the Department of the Treasury Forfeiture Fund.
In March, US President Donald Trump signed an executive order to establish a Strategic Bitcoin Reserve and a digital asset stockpile, which would use crypto confiscated by the government to establish both funds. US Treasury Secretary Scott Bessent has reiterated that the agency is also “exploring budget-neutral pathways” to bolster the Bitcoin reserve.
The new bill represents some movement in the US’ plan to create a Bitcoin reserve. It will be considered by the full House, and if passed, will move on to the Senate.
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In a post to X on Thursday, Joyce expressed gratitude toward the House Appropriations Committee for advancing his broad bill.
“This legislation ensures the federal government is fiscally responsible, leverages new technology, and is focused on national security,” Joyce added.
Other countries ramp up efforts for crypto reserve
In Central Asia, Kassym-Jomart Tokayev, the president of the Republic of Kazakhstan, laid out plans on Monday for the country’s crypto endeavours, including a strategic crypto reserve.
He floated creating a state fund for digital assets to accumulate “promising assets in the new digital financial system.”
Meanwhile, the Philippines’ Congress in August was considering a proposal to establish a strategic reserve of 10,000 Bitcoin, which could make it the first country in Southeast Asia to adopt Bitcoin as a strategic asset.
Currently, countries holding Bitcoin in their respective reserves exceed 517,000 BTC, amounting to 2.46% of Bitcoin’s total supply, according to Bitbo.
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