The US Treasury has started talks with the best custody companies on securing the strategic bitcoin reserves of the government, according to a report issued by Decrypt on Thursday.
The meetings were held this week as officials searched for the best way to store and manage the country’s Crypto Holdings in the country, which includes nearly 200,000 BTC, at a value of about $ 17.5 billion at today’s prices.
The report said that the discussions are part of an effort to determine whether the government should be resolved by Peticoin or the use of third -party companies.
The Ministry of Treasury weighs the nursery options for billions in Bitcoin
Anatharag Nathan McCalli It is said He stressed that government officials asked detailed questions about how to properly secure Bitcoin at the national level, what role that Stablecoins may play in this process, and how custody decisions can affect the structure of the public encryption market.
“The Treasury is asking all the correct questions,” said Mozouli. “They understand that this is historical.” The Treasury is still uncomfortable on how to store the growing bitcoin reserves.
One of the government officials told Decrypt that there is currently no official decision on how to move forward. “They still discover it,” they said. “At the present time, they are only looking for the best way to attend the strategic reserve.”
The American Marshals service, which has long been responsible for the Crypto administration, is already working with Coinbase for custody. Last year, Coinbase took advantage of the large encryption, although we cannot know if this arrangement includes bitcoin kept by the treasury.
White House orders full accounting of American encryption reserves
The Biden Administration had an enemy approach to encryption, with an organizational campaign that forced many companies to work in the event of uncertainty. But during the era of President Donald Trump, the government turned into hatred for the first time ever.
Trump’s executive order regarding Bitcoin Strategic Reserve, Treasury and Trade, to explore how the United States can add a ton to bitcoin possesses, while ensuring that the strategy remains neutral for the budget.
In the White House, David Sachs, artificial intelligence was assigned Trump and Crypto CZAR, to oversee the process. Speaking to reporters last week, Sacks confirmed that the full accounting of Bitcoin from the federal government is ongoing.
Sacks estimated the holdings at 200,000 BTC, but she admitted that a full audit was needed to confirm the total. “It is a real shameful matter that we have not increased the value of the American taxpayer.” SBR bags described it as a “digital fortress for digital gold”.
It caught the United States’ quick embrace of Betcoin the attention of global organizers. Speaking at the Chefir Conference in Singapore on Thursday, Binance CEO, Richard Ting, said, “We have moved from a period of organizational hostility to the world’s largest economy,” We want to embrace encryption. “
Ting also said he was excited to finish Trump, “Baindin 2.0”, which was an attempt to restrict access to coding companies. But since Trump’s victory, the banking climate has changed significantly.
The encryption companies that have previously struggled to obtain banking relationships now find it easier to work with financial institutions. DENG agreed from Hashkey Capital, over the course of the return of banking services to encryption companies one of the largest changes in the framework of the new management.
“The banks are now the most comfortable work with encryption customers,” Deng said. “This is a big step for the encryption industry and web3.”
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