Trump's Bitcoin Reserve Plan Faces Obstacles, with Legal Authority and Jurisdictional Disputes as Key Hurdles

According to a Bloomberg report, U.S. President Donald Trump's strategic Bitcoin reserve plan is facing legal and jurisdictional obstacles, with the core point of contention being whether the Treasury Department has the legal authority to manage the reserve assets.

Trump signed the reserve plan shortly after taking office, with the primary source of funds being Bitcoin obtained by the government through criminal or civil forfeiture, and a separate digital asset reserve was established.

On this basis, the relevant executive order also requires the Treasury and Commerce Departments to develop a "budget-neutral" Bitcoin acquisition strategy, ensuring that the reserve goals are achieved without increasing costs to taxpayers.

According to sources familiar with the matter, the issue of whether the Treasury Department has the legal authority to manage the reserve has not been resolved, and there have been voices in discussions advocating for the reserve to be placed under the jurisdiction of the Commerce Department.

Meanwhile, given Bitcoin's high price volatility, the question of whether the government can "indefinitely" hold Bitcoin is also under discussion.

Currently, the Senate and House of Representatives are continuing to evaluate the optimal structural legislation for the strategic reserve and digital asset reserve, in an attempt to codify Trump's executive order into law, aiming to fulfill President Trump's campaign promise to "cement America's status as the global crypto capital."

A bill proposed by Wyoming Senator Cynthia Lummis and Alaska Representative Nick Begich suggests, based on the executive order, a plan to acquire 1 million Bitcoins over five years through a "budget-neutral strategy."

However, despite White House crypto affairs advisor Patrick Witt hinting in April that a major announcement would come in the "coming weeks," it has yet to materialize. The ambiguity of legal authority and jurisdiction is causing the U.S. strategic Bitcoin reserve plan to stall.

In summary, from disputes over legal authority to jurisdictional shifts, and repeated failures to meet key deadlines, the Trump administration's vision for a Bitcoin reserve is facing multiple real-world tests on the path from paper to implementation.

#比特币储备 #Jurisdictional Dispute