US Bitcoin reserve plan stalls amid agency dispute

• The Trump administration's proposed Strategic Bitcoin Reserve has encountered an internal obstacle, with two federal departments competing for oversight of the initiative amid unresolved questions over legal authority, according to a Bloomberg report.
• President Donald Trump signed an executive order in March 2025 directing the Treasury Department to house the reserve, with the asset base to be drawn from Bitcoin (CRYPTO:BTC) seized through criminal and civil asset forfeitures across federal agencies, alongside potential future purchases.
• The same executive order required the Treasury Department to conduct a review of legal and investment questions before the reserve could become fully operational.

Concerns have since emerged over whether the Treasury Department holds clear legal authority to manage Bitcoin (CRYPTO:BTC) as a reserve asset, Bloomberg reported.

The Commerce Department has emerged as a potential alternative custodian for the reserve, with both departments now working alongside the Justice Department's Office of Legal Counsel to identify a legally sound operational structure.

Congress has introduced legislation including the BITCOIN Act and the ARMA Act to resolve the legal uncertainties surrounding the reserve, but neither bill has gained significant traction in the legislative process.

Federal agencies have so far declined to publicly disclose the total amount of Bitcoin (CRYPTO:BTC) currently held by the US government.

The unresolved jurisdictional dispute between the Treasury and Commerce departments represents a significant delay to what was positioned as a landmark shift in US government asset management policy.

The outcome of the Office of Legal Counsel's review is expected to determine which department assumes formal responsibility for the reserve and under what statutory framework it will operate.

At the time of reporting, Bitcoin price was $63,298.38.