The Federal Reserve Bank of Chicago, represented by Austan Goolsbee, has stated that the institution is limited by law in terms of what it can include in its balance sheet, effectively ruling out the possibility of holding Bitcoin as a reserve asset. Federal Reserve Chair Jerome Powell has also previously mentioned that the institution is legally prohibited from holding Bitcoin and has no plans to change this. Despite this, Powell has acknowledged that banks can provide cryptocurrency custody services now that the SEC has provided guidance on the matter. The idea of a strategic Bitcoin reserve in the US seems less likely to happen by the end of April, with chances dropping to 16%, but it is still expected to be established at some point this year. Some US states, including Texas, Florida, and Ohio, are working towards creating local Bitcoin reserves, although success rates are uncertain. Meanwhile, there are critics of the idea, with ECB President Christine Lagarde stating that Bitcoin will not be included in the European Union's reserves due to concerns about security, liquidity, and criminal activities such as money laundering.



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