US Congress Demands 90-Day Federal Bitcoin Reserve Plan
US Congress has introduced a new appropriations bill directing the Treasury Department to deliver, within 90 days, a detailed plan for a Federal Bitcoin Reserve. The report must outline custody methods, cybersecurity measures, legal authority and third-party custodians, as well as a cross-agency transfer framework and its impact on the Treasury Forfeiture Fund. Proposed by Rep. David P. Joyce, the bill aims to modernize government asset management and test how digital assets would be recorded on federal balance sheets. While it stops short of mandating Bitcoin purchases, the legislation underscores growing regulatory interest in federal crypto reserves. Traders should watch for the Treasury’s approach to cybersecurity and custodian risks, as a clear federal framework could boost confidence and stability in the Bitcoin market.
Bullish
This legislation signals a move toward formal federal management of Bitcoin Reserve, setting clear custody and cybersecurity standards. In the short term, the requirement for a detailed plan may have limited impact on BTC prices, but it reflects positive regulatory momentum. Over the long term, a solid federal framework for digital assets could enhance market trust and stability, supporting bullish sentiment for Bitcoin.