US Federal Agencies to Report Crypto holders to Treasury on April 7

The US federal agencies are expected to disclose their cryptocurrencies to the Department of Treasury on April 7, following an executive order signed by President Donald Trump earlier this year.

An unnamed White House official, journalist Eleanor Terrett reported that the deadline for federal agencies to report their crypto holders to the Treasury Secretary Scott Bescent was April 7.

However, disclosure will remain confidential today. “It is not clear now if and when the findings can be expressed,” Terrett wrote.

Crypto disclosure complies with the establishment of Bitcoin Reserve

Required to report follows a Signed Executive Order on March 7 That taught the creation of a strategic bitcoin reserve and a wider digital asset stockpile. The bitcoin (Btc) The reserve will be delivered to the BTC who is forgiven to federal agencies through civil seizures or criminal possessions.

White House AI and Crypto Czar David Sacks described the reserve as a “digital fort Knox for cryptocurrency,” saying that the US will not sell any BTC held in the reserve. “It will keep as a store of value,” Sacks added.

Sacks had previously regretted the US government Selling 195,000 BTC for $ 366 million. The official said the BTC sold by the US government could leave for billions -billions if it was only held in property.

The reserve was first prepared by the BTC maintained by Treasury, while other federal agencies would “review their legal authority” to move their BTC to the reserve.

Regarding the digital asset stockpile, Sacks said it would uphold the “responsible steward” of government crypto assets under Treasury. This includes potential sales from stockpiles.

On March 2, Trump said the Crypto reserve Includes possessions Like XRP (XRP), Solana (Sol) and cardano (Ada). The US president later added Ether (Eth) and bitcoin (Btc) on his crypto reserve list.