U.S. Strategic Bitcoin Reserve Stalls Amid Treasury Commerce Authority Dispute
2026-07-08 01:30

Woofun AI reports that the U.S. Strategic Bitcoin Reserve lacks a concrete operational structure amid a power struggle between the Treasury and Commerce Departments regarding authority to manage 300,000 BTC. The Department of Justice’s Office of Legal Counsel is assessing whether the federal government can hold bitcoin indefinitely without facing legal or operational complications related to custody and accounting. Patrick Witt noted the reserve's structure remains under review, while Cynthia Lummis and Nick Begich warned that legislative codification is necessary to prevent a future president from reversing the initiative.

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Tags:
BTC
bitcoin
Donald Trump
Patrick Witt
Cynthia Lummis
Nick Begich
Bloomberg
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