Potential Bitcoin Reserves Discussed by Government Task Force

According to Odaily, David Sacks, known as the 'Crypto Czar,' addressed the possibility of Bitcoin reserves during a press conference in Washington on Tuesday. He stated that considering Bitcoin reserves is a primary issue for the government task force he is part of. However, the task force is still in its early stages, awaiting confirmation of some cabinet members. Sacks emphasized that this topic remains a priority. When questioned about the involvement of the cryptocurrency industry in the White House's initiatives, Sacks mentioned that a statement would be released in the future to authorize some form of engagement with the industry. Republican lawmakers joined Sacks at the press conference to announce the formation of a bipartisan congressional task force aimed at developing cryptocurrency regulatory frameworks. Sacks met with several Republican legislators, including Senate Banking Committee Chairman Tim Scott, Senate Agriculture Committee Chairman John Boozman, House Financial Services Committee Chairman French Hill, and House Agriculture Committee Chairman Glenn Thompson. Previously, Sacks had indicated that the feasibility of Bitcoin reserves was under study, but he could not comment on whether sovereign wealth funds should hold cryptocurrencies.