"President Trump signed an executive order to create a national stockpile of Bitcoin and other digital currencies, using seized funds from legal cases."
"The initiative has been criticized as a scheme to benefit crypto investors and raises concerns over potential conflicts of interest."
"The order also requires federal agencies to find budget-neutral methods for purchasing more Bitcoin, reinforcing the U.S.'s position as a crypto leader."
"Trump's administration has actively supported the crypto industry by dropping lawsuits against major companies, indicating a significant shift in regulatory approach."
President Trump has signed an executive order that establishes a national stockpile of Bitcoin and other digital currencies as part of a strategy to position the U.S. as a leader in the crypto industry. This stockpile will initially consist of Bitcoin seized over the years, valued at around $17 billion. Critics argue the initiative benefits crypto investors and poses potential conflicts of interest regarding Trump's personal stakes in the cryptocurrency market. Federal agencies are also directed to create budget-neutral strategies for further Bitcoin acquisitions, marking a notable shift in regulatory stance towards the crypto sector.
Read at www.nytimes.com
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