#Trump’sExecutiveOrder

#WhiteHouseCryptoSummit

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President Donald Trump's

decision to establish official government cryptocurrency reserves in the US has drawn criticism from industry watchers.

He has signed an executive order creating what he calls a Strategic Bitcoin Reserve as well as a Digital Asset Stockpile, which will consist of other forms of digital currency.

The funds will be stocked with coins forfeited to the federal government as part of criminal or civil proceedings.

White House AI and crypto tsar David Sacks likened them to a "a digital Fort Knox for the cryptocurrency", drawing comparison to the Kentucky military base that stores a significant portion of US gold assets.

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