Crypto
U.S. lawmaker proposes bill to hold seized bitcoin as reserve asset
A bill is being pursued in the U.S. Congress that would require the federal government to hold bitcoin seized in law enforcement operations instead of auctioning it. Republican Representative Nick Begich said the proposal, called the American Reserve Asset Modernization Act, aims to replace the practice of immediate sales. He argued bitcoin could serve as a reserve asset because of scarcity and a dispersed ownership base, and described it as insurance against potential dollar depreciation.
