The Trump administration's executive order will require U.S. federal agencies to report directly to the Treasury Department about their Bitcoin holdings

According to News.bitcoin, the White House has explained Trump's executive order that confiscated bitcoins will no longer be sold and will be stored as part of a new strategic bitcoin reserve managed by the U.S. Treasury Department. Other digital assets will enter a separate U.S. digital asset reserve, with the aim of strengthening supervision, improving management and formulating long-term encryption strategies. Now, U.S federal agencies must directly report their bitcoin holdings to the Treasury Department.