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The Federal Reserve is not allowed to hold Bitcoin! Is Trump's Bitcoin reserve plan doomed? Where does U.S. cryptocurrency go from here?
In the context of President Trump's proposal to establish a 'national strategic Bitcoin reserve,' Federal Reserve Chairman Powell reiterated the Fed's position that it cannot hold Bitcoin in his latest public speech. This statement has attracted widespread attention from the market, impacting Bitcoin's price and prompting many to ponder the future of cryptocurrencies in the U.S.
After the Federal Reserve announced a 25 basis point cut in the benchmark interest rate and lowered its expectations for rate cuts next year, Powell clearly stated that under current law, the Federal Reserve is not permitted to hold Bitcoin or participate in the establishment of a Bitcoin reserve. This issue should be discussed and decided by Congress, and the Federal Reserve currently has no interest in this matter and does not intend to seek to change this situation. This means that even if there are legislative proposals to change the functions and legal framework of the Federal Reserve, it is not an easy task.
After the Federal Reserve announced a 25 basis point cut in the benchmark interest rate and lowered its expectations for rate cuts next year, Powell clearly stated that under current law, the Federal Reserve is not permitted to hold Bitcoin or participate in the establishment of a Bitcoin reserve. This issue should be discussed and decided by Congress, and the Federal Reserve currently has no interest in this matter and does not intend to seek to change this situation. This means that even if there are legislative proposals to change the functions and legal framework of the Federal Reserve, it is not an easy task.
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