The Bitcoin strategic reserve plan, proposed by the US administration of Donald Trump, has entered a more complicated process than expected due to legal and bureaucratic obstacles.
According to Bloomberg, the government’s idea of ​​collecting and managing Bitcoin under a national reserve-like structure is not yet clearly defined due to questions surrounding the authority of the institutions involved.
Initially, the reserve was planned to be managed by the US Treasury Department. However, officials close to the process say there are serious doubts about whether Treasury has explicit legal authority to hold, manage and position government-owned Bitcoin assets within a reserve structure. This requires a new assessment of the feasibility of the plan.
According to the report, the Trump administration is also considering the possibility of structuring the reserve under another institution due to current legal uncertainties. One of the alternatives being evaluated is establishing the Strategic Bitcoin Reserve within the Ministry of Commerce. This would aim to create the reserve on a more favorable legal basis.
One of the institutions that played a critical role in the process was the Office of Legal Counsel at the U.S. Department of Justice.
The unit in question would work with the Department of the Treasury and the Ministry of Commerce to develop a viable framework for determining under which institution and on what legal basis a Bitcoin reserve could be established.
While the Trump administration’s idea of ​​considering Bitcoin as a strategic reserve asset is considered an important turning point in the cryptocurrency market, implementing this plan requires not only political will but also a clear legal framework.
This debate in the United States over the creation of a state-level Bitcoin reserve could herald a broader transformation in the role of digital assets in public finances and national strategy, experts say.
*This does not constitute investment advice.
