Fox reporter: The White House intends to further clarify the "Strategic Cryptocurrency Reserve" plan, which may clarify the source of funds
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Odaily reported that according to Fox Business reporter Charles Gasparino, sources have revealed that the White House is preparing to provide further clarification on its so-called "strategic cryptocurrency reserve" plan, which is expected to be released later today or tomorrow. Gasparino speculated that this clarification may focus on the funding mechanism, including the potential obstacles of using taxpayer funds to purchase digital currencies (which would likely require congressional approval and be almost impossible to achieve). He pointed out that possible solutions include: 1. Using confiscated cryptocurrencies for the reserve (reportedly, 200,000 Bitcoins have been seized from illicit actors); 2. Adopting a sovereign wealth fund model to provide funding for cryptocurrency purchases (a proposal previously made by former CFTC chairman Chris Giancarlo). Gasparino emphasized that the situation is still evolving and may be subject to change.
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