A new proposal in the US House of Representatives is calling on the Treasury Department to explain what it would take to manage a national Bitcoin
The bill gives the department 90 days to deliver a full report covering both technical and legal aspects of holding and managing digital assets.
The report would need to cover how these assets would be stored, what cybersecurity protections would be in place, and whether the government would use third-party providers for safekeeping. It also requests that the Treasury identify any such outside firms and explain their roles.
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Beyond storage and security, the bill also seeks clarity on how digital assets would be tracked on the government’s financial records. That includes how transfers between agencies would be handled and how Bitcoin or other tokens would be represented on the federal balance sheet.
Lawmakers also want to know what challenges the Treasury might face in putting these plans into action. The department is expected to flag any legal or technical obstacles and explain how the project might affect the Treasury Forfeiture Fund, which holds assets seized through law enforcement efforts.
The legislation was introduced by Representative David P. Joyce, who praised the House Appropriations Committee for moving the proposal forward.
In a post on X, Joyce said the bill would help ensure the US government keeps up with new technologies while staying focused on financial stability and national security.
Recently, Treasury Secretary Scott Bessent caused confusion after remarks that seemed to rule out buying more Bitcoin. What did he say? Read the full story.
