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#TrumpBTCTreasury The decision of President Donald Trump to establish official government cryptocurrency reserves in the United States has generated criticism from industry observers.
He has signed an executive order that creates what he calls a Strategic Bitcoin Reserve, as well as a Digital Assets Reserve, which will be composed of other forms of digital currency.
The funds will be stored with coins confiscated by the federal government as part of criminal or civil proceedings.
The White House's artificial intelligence and cryptocurrency czar, David Sacks, compared them to "a digital Fort Knox for cryptocurrencies," making a comparison to the military base in Kentucky that stores a significant portion of the United States' gold assets.
However, some cryptocurrency enthusiasts have criticized the government for not being bolder, while others have raised doubts about the lack of transparency in the process.
He has signed an executive order that creates what he calls a Strategic Bitcoin Reserve, as well as a Digital Assets Reserve, which will be composed of other forms of digital currency.
The funds will be stored with coins confiscated by the federal government as part of criminal or civil proceedings.
The White House's artificial intelligence and cryptocurrency czar, David Sacks, compared them to "a digital Fort Knox for cryptocurrencies," making a comparison to the military base in Kentucky that stores a significant portion of the United States' gold assets.
However, some cryptocurrency enthusiasts have criticized the government for not being bolder, while others have raised doubts about the lack of transparency in the process.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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