US Bitcoin reserve hits snag as federal agencies debate for control: Bloomberg
The report follows comments from White House crypto adviser Patrick Witt in May, who said the administration was examining the legal implications of creating a Bitcoin reserve.
The Trump administration’s push to establish a US Strategic Bitcoin Reserve has reportedly hit a roadblock, as the Commerce and Treasury departments are at odds over how the reserve should be structured and which agency should have primary oversight of the holdings.
US President Donald Trump’s March 2025 executive order called for the SBR to be housed inside the Treasury Department, while other agencies would assist with asset seizures to build the reserve.
However, concerns have emerged over whether the Treasury has the legal authority to manage the Bitcoin (BTC) holdings, partly because of its volatility, Bloomberg reported Monday, citing people familiar with the matter.