US House bill directs Treasury to draft plan for managing Bitcoin reserves

The U.S. House of Representatives has introduced a bill (HR 5166) that would mandate the creation of a plan for how the federal government will store and manage its strategic Bitcoin reserves. If passed, the legislation would require the Secretary of the Treasury to report a digital asset custody plan to relevant House and Senate committees within 90 days. The bill is seen as a move toward formally considering the stockpiling of Bitcoin and other digital assets as national strategic assets and establishing the necessary regulations. The bill has now been referred to the full House for consideration.