Fox Reporter: The White House plans to further clarify the "Strategic Cryptocurrency Reserve" plan, and may explain the issue of funding sources
According to a revelation by Fox Business reporter Charles Gasparino, sources have disclosed that the White House is preparing to further clarify its so-called "strategic cryptocurrency reserve" plan, expected to be released later today or tomorrow. Gasparino speculates that this clarification may focus on funding mechanisms, namely the potential obstacles of using taxpayer funds to purchase digital currencies (this move may require congressional approval but is almost impossible). He pointed out possible solutions include: 1. Using confiscated cryptocurrencies for reserves (it's reported that 200,000 bitcoins have been seized from criminals); 2. Adopting a sovereign wealth fund model to provide funds for purchasing cryptocurrencies (a concept previously proposed by former U.S Commodity Futures Trading Commission Chairman Chris Giancarlo). Gasparino emphasized that this event is still developing and could change.
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