Ex-White House Crypto Chief Says U.S. Needs Congress Approval to Buy Bitcoin

TLDR: Witt says Bitcoin purchases need explicit congressional authorization since Congress controls funding. A premature move could lead Congress to add an NDAA provision banning government Bitcoin purchases. Government Bitcoin holdings are not fully audited, and past custody practices were seriously inadequate. Options include repricing gold, the Exchange Stabilization Fund, and accepting Bitcoin receipts. Patrick [...]

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