Fox reporter: The White House plans to further clarify the "strategic cryptocurrency reserve" plan, or may clarify the source of funding
According to Fox Business correspondent Charles Gasparino, sources have revealed that the White House is preparing to provide further clarification on its so-called "strategic cryptocurrency reserve" plan, which is expected to be released later today or tomorrow.
Gasparino speculated that the clarification could focus on funding mechanisms, namely potential obstacles to the use of taxpayer funds to purchase digital currencies (a move that would require congressional approval but is nearly impossible to achieve).
He pointed out that possible solutions include: 1. Using confiscated cryptocurrencies as reserves (200,000 bitcoins have allegedly been seized from criminals); 2. Adopting a sovereign wealth fund model to finance cryptocurrency purchases (former US Commodity Futures Trading Commission chairperson Chris Giancarlo has proposed this idea).
Gasparino stressed that the event is still ongoing and could change.