The United States Treasury Secretary is expected to deliver an evaluation on Monday regarding establishing and managing the Strategic Bitcoin Reserve, as required under an executive order signed by President Donald Trump on March 6.
The mandate tasks Secretary Scott Bessent with identifying the appropriate custodial accounts for both the Strategic Bitcoin Reserve named the United States Digital Asset Stockpile. The Secretary must also assess if any new legislation is necessary to operationalize the proposed reserve infrastructure and administration of these digital holdings.
US government could announce tally of seized crypto assets
In the executive order, the Treasury Department had been instructed to consolidate other seized digital assets into a centralized framework named the United States Digital Asset Stockpile. The stockpile will include all cryptos, excluding Bitcoin, formally confiscated through civil or criminal asset forfeiture cases.
“Assets required under Title 31 of the US Code or already released under subsection (d) are exempt from the stockpile directive,” the order explained.
Each federal agency holding such digital assets was given 30 days from the March 6 order to review its authority to transfer them to the Treasury’s custody and to submit their findings. The findings are yet to be shared with the public, but according to data compiled by bitcoinlaws.io, there are currently 130 active Bitcoin-related legislative proposals across the US.
Of those, 46 bills directly related to the Strategic Bitcoin Reserve concept, and 39 initiatives to implement live reserves are underway across 20 states.
🇺🇲 UPDATE: US Bitcoin legislation summary, according to bitcoinlawsdotio
• Total Bitcoin bills: 130
• Introduced Strategic Bitcoin Reserve: 46
• 'Live' SBR across 20 States: 39#CryptoNews #crypto pic.twitter.com/Pzc40s5ojW— Michael ☦ (@imperfect_llex) May 5, 2025
On April 28, Arizona state’s House of Representatives passed two separate bills aimed at enabling the creation of a crypto reserve.
Senate Bill 1025, which amends Arizona’s statutes to allow for a strategic Bitcoin reserve, passed with 31 votes in favor and 25 opposed.
“This bill basically takes the approach that probably 15 other states are considering,” said Representative Jeff Weninger. He added that the legislation would allow the state treasurer to invest up to 10% of state-held assets, predominantly in Bitcoin.
However, as reported by Cryptopolitan last Friday, Governor Katie Hobbs vetoed the bill because “funds are not the place for the state to try untested investments like virtual currency.”
Elsewhere, the city of Roswell, New Mexico, officially added Bitcoin to its balance sheet on April 30, following the approval of a Bitcoin Strategic Reserve initiative signed by Mayor Pro Tem Juliana Halvorson.
Sovereign interest in Bitcoin
Per Bitwise CIO Matthew Hougan, several sovereign nations are interested in acquiring Bitcoin through exchange-traded funds (ETFs) to expedite their entry into the market.
“I had a conversation with a sovereign that was interested in the ETF because they wanted to get ahead of the US buying it,” Hougan said at a Bitcoin conference in New York last week.
However, naysayers are worried that state-level Bitcoin acquisitions, such as Arizona’s proposed 10% allocation of state assets, will lead to a misuse of public funds.
UK and US to discuss joint crypto regulatory framework
Internationally, the United Kingdom has tabled a proposal to work with the US to regulate digital assets. At the Innovate Finance Global Summit last Wednesday, UK Chancellor of the Exchequer Rachel Reeves announced that the UK government, in conjunction with US officials, will formulate joint regulatory standards for digital assets.
Reeves disclosed that she and Secretary Bessent had discussed cooperative frameworks in Washington and would continue the dialogue at the June meeting of the UK-US Financial Regulatory Working Group.
Still, some EU leaders are wary of America’s embrace of digital currencies. In March, European Central Bank official François Villeroy de Galhau warned that the US, under pro-crypto US President Donald Trump, will destabilize Europe’s financial markets.
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