Blockchain Legal Resource

On March 6, 2025, President Trump issued an executive order entitled “Establishment of the Strategic Bitcoin Reserve and United States Digital Asset Stockpile.” It is the latest effort in the President’s sweeping reforms concerning the digital asset industry.

Under the order, the Secretary of the Treasury is required to establish an office to administer and maintain control of custodial accounts collectively known as the “Strategic Bitcoin Reserve.” The Strategic Bitcoin Reserve is capitalized with all Bitcoin held by the Department of the Treasury that was finally forfeited as part of criminal or civil asset forfeiture proceedings or in satisfaction of any civil money penalty imposed by any executive department or agency. Government Bitcoin deposited into the Strategic Bitcoin Reserve may not be sold and must be maintained as reserve assets of the United States utilized to meet governmental objectives in accordance with applicable law. 

Similarly, the order further tasks the Secretary of the Treasury with establishing a “United States Digital Asset Stockpile,” capitalized with all digital assets owned by the Department of the Treasury, other than Bitcoin.  The Secretary of the Treasury is required to determine strategies for responsible stewardship of the United States Digital Asset Stockpile in accordance with applicable law.

The order instructs the Secretary of the Treasury and the Secretary of Commerce to develop strategies for acquiring additional Government Bitcoin provided that such strategies are budget neutral and do not impose incremental costs on United States taxpayers.  However, the United States Government may not acquire additional digital assets other than in connection with criminal or civil asset forfeiture proceedings or in satisfaction of any civil money penalty imposed by any agency without further executive or legislative action. Additionally, the head of each executive agency must provide the Secretary of the Treasury and the President’s Working Group on Digital Asset Markets with a full accounting of all digital assets in such agency’s possession in order to facilitate its transfer to the Strategic Bitcoin Reserve and United States Digital Asset Stockpile, as applicable.