U.S. House lawmakers have initiated a process requiring the Treasury Department to assess the feasibility and governance of establishing a Strategic Bitcoin Reserve. This proposal emerged from two sections of a recent House appropriations bill, approved by the House Appropriations Committee, which mandates a report on custody, cybersecurity, and accounting practices for government-held digital assets. The Treasury has 90 days to report on various aspects, including custody architecture and legal authority for holding such assets, with the bill aiming to set benchmarks for industry standards in the treatment of digital currencies. The provisions echo a previous executive order from former President Donald Trump that aimed to clarify frameworks related to a Strategic Bitcoin Reserve. If passed, this bill would require the Treasury to address crucial operational and legal issues similar to those faced by institutional custodians in the cryptocurrency space. This move indicates Congress's determination to provide clarity and structure in the management of digital assets as they gain prominence in the financial sector.

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