The White House Releases Virtual Asset Regulation Report Including Bitcoin (BTC) Reserve Plans
Summary
- The report released by the White House includes the U.S. government’s Bitcoin (BTC) reserve plans.
- The report specifies that the Bitcoin reserved by the Department of the Treasury will be managed as an asset used for achieving policy goals.
- The report also stated that it proposed granting the Commodity Futures Trading Commission (CFTC) authority to regulate the spot market for non-security digital assets.
According to The Block, a virtual asset (cryptocurrency) specialized media outlet, on the 30th (local time), the White House released an official report consisting of 168 pages outlining regulations for virtual assets.
Unlike the previously released summary, this report notably includes the U.S. government's plan to reserve virtual assets.
The report states, "The Department of the Treasury manages reserved virtual assets, and the reserved Bitcoin (BTC) will generally not be sold, but will be maintained as a U.S. reserve asset to be used for achieving government policy objectives."
Although specific follow-up measures related to the Bitcoin reserves have not yet been disclosed, the report adds, "The Department of the Treasury is carrying out relevant work, and further information will be provided soon."
Additionally, the report suggests granting the Commodity Futures Trading Commission (CFTC) the authority to regulate the spot market for non-security digital assets.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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