Trump signs executive order establishing a 'strategic reserve' of crypto
The initiative is taking place just before a White House crypto summit on Friday, which will showcase prominent figures in the digital assets sector.
TroibNews 
Late Thursday, President Donald Trump signed an executive order that enables the federal government to stockpile cryptocurrency assets seized through law enforcement efforts, a decision intended to enhance the digital assets sector.
According to a post on X by David Sacks, the White House’s crypto and artificial intelligence czar, the federal government will retain the bitcoin assets seized by law enforcement agencies, which will be placed into a “strategic bitcoin reserve.” Additionally, the order empowers the Treasury and Commerce departments “to develop budget-neutral strategies for acquiring additional bitcoin, provided that those strategies have no incremental costs on American taxpayers,” as noted by Sacks.
The executive order also establishes a separate “U.S. Digital Asset Stockpile” that will include other cryptocurrencies that the government seizes.
Sacks emphasized that the reserves “will not cost taxpayers a dime.”
This order represents a significant shift in Washington towards fostering policies that are advantageous for the crypto industry. It coincides with an upcoming White House crypto summit on Friday, which is expected to feature a range of influential figures from the digital assets arena.
Trump initially pledged to establish a crypto reserve during a speech at a major bitcoin conference in July. His recent announcement on social media, which indicated that the plan would encompass assets beyond bitcoin, stirred controversy over the weekend.
“I want to thank the President for his leadership and vision in supporting this cutting-edge technology and for his rapid execution in supporting the digital asset industry,” Sacks remarked. “His administration is truly moving at ‘tech speed.’”
James del Carmen for TROIB News
According to a post on X by David Sacks, the White House’s crypto and artificial intelligence czar, the federal government will retain the bitcoin assets seized by law enforcement agencies, which will be placed into a “strategic bitcoin reserve.” Additionally, the order empowers the Treasury and Commerce departments “to develop budget-neutral strategies for acquiring additional bitcoin, provided that those strategies have no incremental costs on American taxpayers,” as noted by Sacks.
The executive order also establishes a separate “U.S. Digital Asset Stockpile” that will include other cryptocurrencies that the government seizes.
Sacks emphasized that the reserves “will not cost taxpayers a dime.”
This order represents a significant shift in Washington towards fostering policies that are advantageous for the crypto industry. It coincides with an upcoming White House crypto summit on Friday, which is expected to feature a range of influential figures from the digital assets arena.
Trump initially pledged to establish a crypto reserve during a speech at a major bitcoin conference in July. His recent announcement on social media, which indicated that the plan would encompass assets beyond bitcoin, stirred controversy over the weekend.
“I want to thank the President for his leadership and vision in supporting this cutting-edge technology and for his rapid execution in supporting the digital asset industry,” Sacks remarked. “His administration is truly moving at ‘tech speed.’”
James del Carmen for TROIB News
