According to Odaily, a report by Bernstein analysts, led by Gautam Chhugani, highlights uncertainties surrounding the establishment of a strategic cryptocurrency reserve in the United States. The report questions whether such a reserve could be created solely through a presidential executive order. If the Federal Reserve's balance sheet is involved, a specific act of Congress would be necessary. The U.S. government is unlikely to establish a reserve under the Treasury without involving the Federal Reserve's balance sheet.
Some suggest that the U.S. Treasury's Exchange Stabilization Fund, which manages foreign exchange and gold, could be used to purchase cryptocurrencies without immediate congressional approval, as it operates under executive control. However, its primary responsibilities are foreign exchange and financial stability, which could present legal and political challenges if it were used for cryptocurrency reserves.