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“…the United States Government shall not acquire additional Stockpile Assets other than in connection with criminal or civil asset forfeiture proceedings or in
by kevinventullo 2y ago
“…the United States Government shall not acquire additional Stockpile Assets other than in connection with criminal or civil asset forfeiture proceedings or in satisfaction of any civil money penalty imposed by any agency without further executive or legislative action.”
- jfim 2y agoThat's interesting, it basically means that the coins that are seized are basically out of the market, increasing the value of the coins left in circulation. However, at some point the US government could start to liquidate a large position, causing a downward pressure on prices. I wonder how large this stockpile is compared to the total number of coins in circulation.
- mtnGoat 2y agoSo basically nothing is changing, because in theory any of those agencies could have sold those in the past and some did. Now it’s just centralizing control… kind of ironic for a decentralized currency.
- sschueller 2y agoHow long until the keys are lost?
- krfsm 2y agoDoes that last bit about "any civil money penalty" mean you can pay your fines with your own meme coin at face value, without having to sell them and thereby tank the value?
- jacinabox 2y agothat's nice, but the US digital asset stockpile is not the strategic bitcoin reserve. The sentence that controls acquisition in the strategic bitcoin reserve is the one before it: 'The Secretary of the Treasury and the Secretary of Commerce shall develop strategies for acquiring additional Government BTC provided that such strategies are budget neutral and do not impose incremental costs on United States taxpayers.' I wonder what budget neutral means. Does it mean that they have to find spending cuts in other areas in order to acquire additional BTC?