U.S. Treasury Discusses Bitcoin Reserve Management with Crypto Custodians

In Brief:

The U.S. Treasury Department met with top crypto custody firms to explore Bitcoin reserve management options.

Discussions focused on custody best practices, stablecoin impact, and whether reserves should be managed privately or by the government.

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The U.S. Treasury Department has engaged in discussions with three major crypto custodians regarding the security and management of strategic Bitcoin reserves, according to Decrypt. Anchorage Digital CEO Nathan McCauley confirmed that the meeting addressed best practices for safeguarding Bitcoin holdings, as well as potential implications for stablecoins and market structure.

Sources indicate that the Treasury is still evaluating whether Bitcoin reserves should be held by a third-party custodian or managed directly by the government. Currently, the U.S. government’s seized crypto assets remain under third-party custody, with Coinbase designated to hold some of these assets as of last year. Further decisions on reserve management could have broad implications for institutional crypto adoption and regulatory oversight.

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