US Federal Agencies to Disclose Cryptocurrency Holdings to Treasury by April 7

US federal agencies have been instructed to reveal their cryptocurrency holdings to the Department of the Treasury by April 7, as per an executive order signed by President Donald Trump earlier this year. According to journalist Eleanor Terrett, an unnamed White House official stated that federal agencies must report their crypto holdings to Treasury Secretary Scott Bessent by the deadline. The disclosed information will be kept confidential for the time being, with uncertainty surrounding the potential public release of the findings. The executive order also mandates the establishment of a Strategic Bitcoin Reserve and a broader Digital Asset Stockpile, with the Bitcoin reserve being funded by BTC seized through civil or criminal asset forfeitures. White House AI and crypto czar David Sacks described the reserve as a secure storage for cryptocurrency, emphasizing that the US government has no intention to sell any BTC held in the reserve. Sacks expressed regret over the previous sale of 195,000 BTC by the US government for $366 million, suggesting that the assets could have fetched billions if retained. The reserve will initially be funded by the Treasury's BTC holdings, while other federal agencies will assess their legal ability to transfer their BTC to the reserve. Additionally, the Digital Asset Stockpile aims to ensure responsible management of the government's crypto assets, potentially including sales from the stockpiles. Trump's announcement on March 2 specified that the crypto reserve would encompass assets such as XRP, Solana, Cardano, Ether, and Bitcoin. The market experienced a significant downturn following Trump's decision to impose a 10% tariff on all countries, with higher rates for specific nations like China, Japan, and the European Union. Consequently, the overall crypto market capitalization decreased by more than 8%, dropping to $2.5 trillion.