Those who cheered U.S. Bitcoin reserve have spent year watching Trump order languish
A year after President Trump's order, the proposed U.S. Strategic Bitcoin Reserve remains unformed due to required Congressional legislation.Summary
President Donald Trump's executive order from a year prior, intended to establish a "Strategic Bitcoin Reserve" of cryptocurrency for the federal government, has stalled because it requires enabling legislation from Congress. While the Trump administration accounted for existing crypto holdings, the Treasury Department lacks the necessary authorizations to build the specialized accounts needed for the reserve. Lawmakers like Senator Cynthia Lummis have proposed legislation, with the best current chance for passage possibly being inclusion in the National Defense Authorization Act at the end of the year, provided the White House prioritizes it. The initial order encouraged creative funding methods to add to the stockpile without using taxpayer dollars, but progress is halted pending legislative action, highlighting that executive orders lack the force of law.
(Source：CoinDesk)