Trump’s plan for a crypto reserve faces obstacles as it likely requires congressional approval, while similar state-level efforts are failing. The president claimed on Sunday that his January executive order directed the creation of a U.S. Crypto Reserve. Trump's post boosted crypto prices despite his January order only calling for a stockpile of seized assets, not an active government crypto reserve. Several states have rejected bills to invest in Bitcoin, indicating skepticism about a U.S. crypto reserve. A U.S. crypto reserve would likely require congressional approval, but there is little support for funding one.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Trump's plan for a crypto reserve faces obstacles as it likely requires congressional approval,
00:07while similar state-level efforts are failing.
00:09The president claimed on Sunday that his January 2nd order
00:12directed the creation of a U.S. crypto reserve.
00:15Trump's post boosted crypto prices despite his January order only calling for a stockpile
00:19of seized assets, not an active government crypto reserve.
00:23Several states have rejected bills to invest in Bitcoin,
00:26indicating skepticism about a U.S. crypto reserve.
00:28U.S. crypto reserve would likely require congressional approval,
00:31but there is little support for funding one.
00:33For all things money, visit Benzinga.com slash GSTV.