Gerald Connolly, the Democratic leader on the House Oversight and Government Reform Committee, has urged the US Treasury to halt plans to create a strategic cryptocurrency reserve after President Donald Trump pursued the creation of a national bitcoin reserve and a personal cryptocurrency reserve.
In a letter to the Treasury on Thursday, the Virginia Democratic lawmaker noted that there was a "clear conflict of interest" in Mr. Trump's push to create the reserve. Gerald Connolly said Mr. Trump had not consulted Congress and had not "sought congressional authorization" to create the reserve. "Establishing a strategic cryptocurrency reserve would enrich the president and his closest allies at the expense of the American taxpayer," the letter said. "I urge that all plans to establish a strategic cryptocurrency reserve be halted and request that briefings be provided to the staff of the Oversight and Government Reform Committee."
Top Democrats are pressuring the Treasury Department to stop Trump's strategic bitcoin reserve plan
2025-03-13 22:56:20
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