The U.S. government is inching closer to revealing its involvement in the crypto space. As global markets fluctuate and crypto prices experience volatility, a critical deadline is set for Monday.
Federal agencies must report their Bitcoin and other cryptocurrency holdings to the Treasury Secretary, a move that could significantly influence future U.S. crypto strategies.
Crypto Reporting Deadline Hits
According to Fox journalist Eleanor Terrett, a White House official confirmed that all federal agencies are required to submit their cryptocurrency holdings to Treasury Secretary Scott Bessent by Monday. This follows an executive order issued on March 6 by former President Donald Trump, which called for the establishment of a Strategic Bitcoin Reserve and a Digital Asset Stockpile.
The aim of these new initiatives is to better manage the government’s growing crypto assets—particularly those obtained through criminal or civil forfeiture. The Strategic Bitcoin Reserve, often referred to as a “digital Fort Knox,” is designed to securely store confiscated Bitcoin for long-term holding. On the other hand, the Digital Asset Stockpile provides more flexibility, allowing the Treasury to sell or manage non-Bitcoin assets more actively.
Will the Public Know the Numbers?
While all federal agencies must report their holdings to the Treasury, there is no guarantee that this information will be made public. Eleanor Terrett has indicated that while the internal reporting deadline is clear, it remains uncertain if, or when, the public will have access to those figures. The secrecy surrounding the report has raised questions about transparency and the government’s stance on cryptocurrency holdings.
As the deadline approaches, all eyes will be on the Treasury to see what details will emerge about the U.S. government’s crypto assets and how they plan to manage them moving forward.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/u-s-agencies-face-deadline-to-report-crypto-holdings/