According to Bloomberg, Trump's Strategic Bitcoin Reserve plan, announced through a March 2025 executive order, remains stalled as officials debate which federal department should oversee the Bitcoin holdings. The core issue centers on whether the U.S. Treasury Department has the legal authority to manage Bitcoin as a federal reserve asset. The Commerce Department has also emerged as a potential alternative, with the Justice Department's Office of Legal Counsel now coordinating with both agencies to determine the appropriate framework. The White House confirmed that discussions are ongoing to establish the reserve, which would consist of Bitcoin seized in criminal and civil cases.
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