[Federal Register Volume 90, Number 46 (Tuesday, March 11, 2025)]
[Presidential Documents]
[Pages 11789-11791]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-03992]
Presidential Documents
Federal Register / Vol. 90 , No. 46 / Tuesday, March 11, 2025 /
Presidential Documents
[[Page 11789]]
Executive Order 14233 of March 6, 2025
Establishment of the Strategic Bitcoin Reserve
and United States Digital Asset Stockpile
By the authority vested in me as President by the
Constitution and the laws of the United States of
America, it is hereby ordered:
Section 1. Background. Bitcoin is the original
cryptocurrency. The Bitcoin protocol permanently caps
the total supply of bitcoin (BTC) at 21 million coins,
and has never been hacked. As a result of its scarcity
and security, Bitcoin is often referred to as ``digital
gold''. Because there is a fixed supply of BTC, there
is a strategic advantage to being among the first
nations to create a strategic bitcoin reserve. The
United States Government currently holds a significant
amount of BTC, but has not implemented a policy to
maximize BTC's strategic position as a unique store of
value in the global financial system. Just as it is in
our country's interest to thoughtfully manage national
ownership and control of any other resource, our Nation
must harness, not limit, the power of digital assets
for our prosperity.
Sec. 2. Policy. It is the policy of the United States
to establish a Strategic Bitcoin Reserve. It is further
the policy of the United States to establish a United
States Digital Asset Stockpile that can serve as a
secure account for orderly and strategic management of
the United States' other digital asset holdings.
Sec. 3. Creation and Administration of the Strategic
Bitcoin Reserve and United States Digital Asset
Stockpile.
(a) The Secretary of the Treasury shall establish
an office to administer and maintain control of
custodial accounts collectively known as the
``Strategic Bitcoin Reserve,'' capitalized with all BTC
held by the Department of the Treasury that was finally
forfeited as part of criminal or civil asset forfeiture
proceedings or in satisfaction of any civil money
penalty imposed by any executive department or agency
(agency) and that is not needed to satisfy requirements
under 31 U.S.C. 9705 or released pursuant to subsection
(d) of this section (Government BTC). Within 30 days of
the date of this order, each agency shall review its
authorities to transfer any Government BTC held by it
to the Strategic Bitcoin Reserve and shall submit a
report reflecting the result of that review to the
Secretary of the Treasury. Government BTC deposited
into the Strategic Bitcoin Reserve shall not be sold
and shall be maintained as reserve assets of the United
States utilized to meet governmental objectives in
accordance with applicable law.
(b) The Secretary of the Treasury shall establish
an office to administer and maintain control of
custodial accounts collectively known as the ``United
States Digital Asset Stockpile,'' capitalized with all
digital assets owned by the Department of the Treasury,
other than BTC, that were finally forfeited as part of
criminal or civil asset forfeiture proceedings and that
are not needed to satisfy requirements under 31 U.S.C.
9705 or released pursuant to subsection (d) of this
section (Stockpile Assets). Within 30 days of the date
of this order, each agency shall review its authorities
to transfer any Stockpile Assets held by it to the
United States Digital Asset Stockpile and shall submit
a report reflecting the result of that review to the
Secretary of the Treasury. The Secretary of the
Treasury shall determine strategies for responsible
stewardship of the United States Digital Asset
Stockpile in accordance with applicable law.
[[Page 11790]]
(c) 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. However, 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.
(d) ``Government Digital Assets'' means all
Government BTC and all Stockpile Assets. The head of
each agency shall not sell or otherwise dispose of any
Government Digital Assets, except in connection with
the Secretary of the Treasury's exercise of his lawful
authority and responsible stewardship of the United
States Digital Asset Stockpile pursuant to subsection
(b) of this section, or pursuant to an order from a
court of competent jurisdiction, as required by law, or
in cases where the Attorney General or other relevant
agency head determines that the Government Digital
Assets (or the proceeds from the sale or disposition
thereof) can and should:
(i) be returned to identifiable and verifiable victims of crime;
(ii) be used for law enforcement operations;
(iii) be equitably shared with State and local law enforcement partners; or
(iv) be released to satisfy requirements under 31 U.S.C. 9705, 28 U.S.C.
524(c), 18 U.S.C. 981, or 21 U.S.C. 881.
(e) Within 60 days of the date of this order, the
Secretary of the Treasury shall deliver an evaluation
of the legal and investment considerations for
establishing and managing the Strategic Bitcoin Reserve
and United States Digital Asset Stockpile going
forward, including the accounts in which the Strategic
Bitcoin Reserve and United States Digital Asset
Stockpile should be located and the need for any
legislation to operationalize any aspect of this order
or the proper management and administration of such
accounts.
Sec. 4. Accounting. Within 30 days of the date of this
order, the head of each agency shall provide the
Secretary of the Treasury and the President's Working
Group on Digital Asset Markets with a full accounting
of all Government Digital Assets in such agency's
possession, including any information regarding the
custodial accounts in which such Government Digital
Assets are currently held that would be necessary to
facilitate a transfer of the Government Digital Assets
to the Strategic Bitcoin Reserve or the United States
Digital Asset Stockpile. If such agency holds no
Government Digital Assets, such agency shall confirm
such fact to the Secretary of the Treasury and the
President's Working Group on Digital Asset Markets
within 30 days of the date of this order.
Sec. 5. General Provisions. (a) Nothing in this order
shall be construed to impair or otherwise affect:
(i) the authority granted by law to an executive department or agency, or
the head thereof; or
(ii) the functions of the Director of the Office of Management and Budget
relating to budgetary, administrative, or legislative proposals.
(b) This order shall be implemented consistent with
applicable law and subject to the availability of
appropriations.
[[Page 11791]]
(c) This order is not intended to, and does not,
create any right or benefit, substantive or procedural,
enforceable at law or in equity by any party against
the United States, its departments, agencies, or
entities, its officers, employees, or agents, or any
other person.
(Presidential Sig.)
THE WHITE HOUSE,
March 6, 2025.
[FR Doc. 2025-03992
Filed 3-10-25; 11:15 am]
Billing code 3395-F4-P