Trump's crypto czar discusses initiatives but no Bitcoin reserve announced
qz.com —
The Trump administration is exploring cryptocurrency initiatives but has not announced plans for a Bitcoin reserve. David Sacks, the cryptocurrency director, stated the team will assess the feasibility of such a reserve during a recent press conference. Bitcoin's value dropped over 2% to around $98,000 amid these developments. Sacks also mentioned a joint working group in Congress is forming to advance cryptocurrency legislation, aiming to position the U.S. as a global crypto hub. The SEC launched a Crypto Task Force website, led by Hester Peirce, to propose regulations and evaluate a national cryptocurrency stockpile. Additionally, Senator Bill Hagerty introduced a bill to regulate stablecoins, supported by key Senate figures.