#USBitcoinReserves According to Odaily, David Sacks, known as “Crypto Czar,” addressed the issue of Bitcoin reserves during a press conference in Washington on Tuesday. He said that considering Bitcoin reserves is a top concern for a government task force he is a member of. However, the task force is still in its early stages, pending confirmation from some Cabinet members. Sacks emphasized that the topic remains a priority.

Asked about the cryptocurrency industry’s involvement in the White House’s initiatives, Sacks said that a statement authorizing some form of industry cooperation would be issued in the future.

Republican lawmakers joined Sacks at a press conference to announce the formation of a bipartisan congressional task force to develop a regulatory framework for cryptocurrencies. Sacks met with several Republican lawmakers, including Senate Banking Committee Chairman Tim Scott, Senate Agriculture Committee Chairman John Boozman, House Financial Services Committee Chairman French Hill and House Agriculture Committee Chairman Glenn Thompson. Sacks previously suggested that the feasibility of creating bitcoin reserves was being studied, but he could not comment on whether sovereign wealth funds should hold the cryptocurrency.