House Financial Services Committee Chairman French Hill has expressed his support for President Trump's executive order to establish a Strategic Bitcoin Reserve and a digital asset stockpile. Hill believes that this move shows Trump's commitment to maintaining US leadership in digital assets and has encouraged the administration to work with Congress in determining the final structure and funding. Hill also emphasizes the need for accountability and clear regulatory frameworks and calls for legislative action on federal stablecoin regulations and digital asset market oversight. The Treasury Department will manage the Bitcoin reserve and the digital asset stockpile, which will hold cryptocurrencies other than Bitcoin. The government will not actively acquire additional assets beyond those obtained through forfeiture for the stockpile. The market initially reacted negatively due to a lack of immediate plans to buy more Bitcoin for the reserve.



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