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The Verge

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Image Credit: The Verge

Crypto funds seized by the government may go into a ‘digital Fort Knox’

  • The US government plans to establish a Bitcoin reserve, likened to a 'digital Fort Knox', to hold seized crypto funds.
  • The reserve will include around 200,000 Bitcoin, collected as part of criminal or civil forfeitures.
  • The executive order also requires the Treasury Secretary to create a stockpile for other digital assets.
  • The US government intends to keep the reserve as a store of value and not sell any of the Bitcoin.

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