Establishment of the Strategic Bitcoin Reserve and United States Digital Asset Stockpile

[Federal Register Volume 90, Number 46 (Tuesday, March 11, 2025)]

[Presidential Documents]

[Pages 11789-11791]

From the Federal Register Online via the Government Publishing Office [www.gpo.gov]

[FR Doc No: 2025-03992]

Presidential Documents

Federal Register / Vol. 90 , No. 46 / Tuesday, March 11, 2025 /

Presidential Documents

[[Page 11789]]

Executive Order 14233 of March 6, 2025

Establishment of the Strategic Bitcoin Reserve

and United States Digital Asset Stockpile

By the authority vested in me as President by the

Constitution and the laws of the United States of

America, it is hereby ordered:

Section 1. Background. Bitcoin is the original

cryptocurrency. The Bitcoin protocol permanently caps

the total supply of bitcoin (BTC) at 21 million coins,

and has never been hacked. As a result of its scarcity

and security, Bitcoin is often referred to as ``digital

gold''. Because there is a fixed supply of BTC, there

is a strategic advantage to being among the first

nations to create a strategic bitcoin reserve. The

United States Government currently holds a significant

amount of BTC, but has not implemented a policy to

maximize BTC's strategic position as a unique store of

value in the global financial system. Just as it is in

our country's interest to thoughtfully manage national

ownership and control of any other resource, our Nation

must harness, not limit, the power of digital assets

for our prosperity.

y to

maximize BTC's strategic position as a unique store of

value in the global financial system. Just as it is in

our country's interest to thoughtfully manage national

ownership and control of any other resource, our Nation

must harness, not limit, the power of digital assets

for our prosperity.

Sec. 2. Policy. It is the policy of the United States

to establish a Strategic Bitcoin Reserve. It is further

the policy of the United States to establish a United

States Digital Asset Stockpile that can serve as a

secure account for orderly and strategic management of

the United States' other digital asset holdings.

Sec. 3. Creation and Administration of the Strategic

Bitcoin Reserve and United States Digital Asset

Stockpile.

(a) The Secretary of the Treasury shall establish

an office to administer and maintain control of

custodial accounts collectively known as the

``Strategic Bitcoin Reserve,'' capitalized with all BTC

held by the Department of the Treasury that was finally

forfeited as part of criminal or civil asset forfeiture

proceedings or in satisfaction of any civil money

penalty imposed by any executive department or agency

(agency) and that is not needed to satisfy requirements

under 31 U.S.C. 9705 or released pursuant to subsection

epartment of the Treasury that was finally

forfeited as part of criminal or civil asset forfeiture

proceedings or in satisfaction of any civil money

penalty imposed by any executive department or agency

(agency) and that is not needed to satisfy requirements

under 31 U.S.C. 9705 or released pursuant to subsection

(d) of this section (Government BTC). Within 30 days of

the date of this order, each agency shall review its

authorities to transfer any Government BTC held by it

to the Strategic Bitcoin Reserve and shall submit a

report reflecting the result of that review to the

Secretary of the Treasury. Government BTC deposited

into the Strategic Bitcoin Reserve shall not be sold

and shall be maintained as reserve assets of the United

States utilized to meet governmental objectives in

accordance with applicable law.

(b) The Secretary of the Treasury shall establish

an office to administer and maintain control of

custodial accounts collectively known as the ``United

States Digital Asset Stockpile,'' capitalized with all

digital assets owned by the Department of the Treasury,

other than BTC, that were finally forfeited as part of

criminal or civil asset forfeiture proceedings and that

are not needed to satisfy requirements under 31 U.S.C.

9705 or released pursuant to subsection (d) of this

section (Stockpile Assets)

digital assets owned by the Department of the Treasury,

other than BTC, that were finally forfeited as part of

criminal or civil asset forfeiture proceedings and that

are not needed to satisfy requirements under 31 U.S.C.

9705 or released pursuant to subsection (d) of this

section (Stockpile Assets). Within 30 days of the date

of this order, each agency shall review its authorities

to transfer any Stockpile Assets held by it to the

United States Digital Asset Stockpile and shall submit

a report reflecting the result of that review to the

Secretary of the Treasury. The Secretary of the

Treasury shall determine strategies for responsible

stewardship of the United States Digital Asset

Stockpile in accordance with applicable law.

[[Page 11790]]

(c) The Secretary of the Treasury and the Secretary

of Commerce shall develop strategies for acquiring

additional Government BTC provided that such strategies

are budget neutral and do not impose incremental costs

on United States taxpayers. However, the United States

Government shall not acquire additional Stockpile

Assets other than in connection with criminal or civil

asset forfeiture proceedings or in satisfaction of any

civil money penalty imposed by any agency without

further executive or legislative action.

on United States taxpayers. However, the United States

Government shall not acquire additional Stockpile

Assets other than in connection with criminal or civil

asset forfeiture proceedings or in satisfaction of any

civil money penalty imposed by any agency without

further executive or legislative action.

(d) ``Government Digital Assets'' means all

Government BTC and all Stockpile Assets. The head of

each agency shall not sell or otherwise dispose of any

Government Digital Assets, except in connection with

the Secretary of the Treasury's exercise of his lawful

authority and responsible stewardship of the United

States Digital Asset Stockpile pursuant to subsection

(b) of this section, or pursuant to an order from a

court of competent jurisdiction, as required by law, or

in cases where the Attorney General or other relevant

agency head determines that the Government Digital

Assets (or the proceeds from the sale or disposition

thereof) can and should:

(i) be returned to identifiable and verifiable victims of crime;

(ii) be used for law enforcement operations;

(iii) be equitably shared with State and local law enforcement partners; or

(iv) be released to satisfy requirements under 31 U.S.C. 9705, 28 U.S.C.

524(c), 18 U.S.C. 981, or 21 U.S.C. 881.

Assets (or the proceeds from the sale or disposition

thereof) can and should:

(i) be returned to identifiable and verifiable victims of crime;

(ii) be used for law enforcement operations;

(iii) be equitably shared with State and local law enforcement partners; or

(iv) be released to satisfy requirements under 31 U.S.C. 9705, 28 U.S.C.

524(c), 18 U.S.C. 981, or 21 U.S.C. 881.

(e) Within 60 days of the date of this order, the

Secretary of the Treasury shall deliver an evaluation

of the legal and investment considerations for

establishing and managing the Strategic Bitcoin Reserve

and United States Digital Asset Stockpile going

forward, including the accounts in which the Strategic

Bitcoin Reserve and United States Digital Asset

Stockpile should be located and the need for any

legislation to operationalize any aspect of this order

or the proper management and administration of such

accounts.

Sec. 4. Accounting. Within 30 days of the date of this

order, the head of each agency shall provide the

Secretary of the Treasury and the President's Working

Group on Digital Asset Markets with a full accounting

of all Government Digital Assets in such agency's

possession, including any information regarding the

custodial accounts in which such Government Digital

Assets are currently held that would be necessary to

facilitate a transfer of the Government Digital Assets

to the Strategic Bitcoin Reserve or the United States

Digital Asset Stockpile

agency's

possession, including any information regarding the

custodial accounts in which such Government Digital

Assets are currently held that would be necessary to

facilitate a transfer of the Government Digital Assets

to the Strategic Bitcoin Reserve or the United States

Digital Asset Stockpile. If such agency holds no

Government Digital Assets, such agency shall confirm

such fact to the Secretary of the Treasury and the

President's Working Group on Digital Asset Markets

within 30 days of the date of this order.

Sec. 5. General Provisions. (a) Nothing in this order

shall be construed to impair or otherwise affect:

(i) the authority granted by law to an executive department or agency, or

the head thereof; or

(ii) the functions of the Director of the Office of Management and Budget

relating to budgetary, administrative, or legislative proposals.

(b) This order shall be implemented consistent with

applicable law and subject to the availability of

appropriations.

[[Page 11791]]

(c) This order is not intended to, and does not,

create any right or benefit, substantive or procedural,

enforceable at law or in equity by any party against

the United States, its departments, agencies, or

entities, its officers, employees, or agents, or any

other person.

(Presidential Sig.)

THE WHITE HOUSE,

March 6, 2025.

[FR Doc. 2025-03992

Filed 3-10-25; 11:15 am]

Billing code 3395-F4-P