Trump’s Bitcoin Reserve Report Missing: Treasury Silent on Deadline

The US Treasury Department has missed the deadline for releasing an evaluation of the proposed Strategic Bitcoin Reserve (SBR), mandated by a March 6 executive order signed by President Trump. The order, issued two months prior, directed the Treasury to submit an evaluation within 60 days, assessing legal and investment considerations for establishing and managing the SBR and a United States Digital Asset Stockpile. This deadline passed on May 5th, with no public release of the evaluation or any official statement from the Treasury. The lack of transparency extends to a previous 30-day deadline for inter-agency audits of government-held Bitcoin, which also passed without public disclosure. While David Bailey, CEO of BTC Inc. and a Trump confidant, initially offered updates suggesting delays due to agencies needing more time, he later indicated that public release of the audit results was never guaranteed. The executive order doesn't explicitly require public release of the evaluation or any subsequent Treasury recommendations, leaving the future of the SBR shrouded in uncertainty. The silence surrounding the project raises questions about the administration's commitment to its earlier pronouncements and the overall transparency of the initiative. The situation highlights the lack of clarity surrounding the government's approach to cryptocurrency and the potential implications of a national Bitcoin reserve. The absence of information also contrasts with the initial optimistic messaging from the White House, which portrayed the reserve as a ‘digital Fort Knox'. Without official communication, speculation abounds, leaving the public and market participants in the dark about the progress and intentions behind this significant policy proposal. The current silence further underscores the need for greater transparency in government initiatives related to digital assets.

(Source: https://bitcoinist.com/bitcoin-reserve-report-delayed-us-treasury/)