Treasury Develops Bitcoin (BTC) Custody System as Witt Details Purchase Routes

Patrick Witt said the Treasury Department is establishing a Bitcoin (BTC) custody system that may combine self-custody with third-party custody as federal agencies conduct a second review of government-held Bitcoin. The review aims to improve the accuracy of agencies’ holdings data. Witt said whether to publish specific holdings figures remains undecided. The purchase routes discussed previously include revaluing gold reserves, using the Exchange Stabilization Fund, converting other assets and accepting Bitcoin for taxes and fees. Witt said each option requires further legal analysis. Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.

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