President Trump’s plan for a strategic bitcoin reserve is running into legal trouble. Bloomberg reports that jurisdictional questions and legal hurdles are complicating the effort.
The idea of a US government bitcoin stockpile has been floating around since Trump signaled support during the campaign. But turning that into reality is another matter entirely. Federal agencies don’t agree on who has authority to hold and manage crypto assets as a strategic reserve. The Treasury, the Fed, and other bodies all have competing claims.
There’s also the question of where the bitcoin would come from. The government already holds significant amounts seized in criminal cases. Using those as a base for a strategic reserve might be the easy part. The hard part is the legal framework to actually treat bitcoin the same way the US treats gold or petroleum reserves.
No official timeline has been announced for resolving these issues. The administration is reportedly working through the legal questions, but no breakthrough is expected soon.
