TechFlow news, February 22 — According to CoinDesk, the U.S. Marshals Service (USMS) currently cannot confirm the exact amount of cryptocurrencies such as Bitcoin it holds. Sources revealed that the agency struggles even to provide a rough estimate of its Bitcoin holdings, which could impact the U.S. government’s previously announced national cryptocurrency reserve initiative.
It is reported that USMS is still manually managing digital assets using Excel spreadsheets and lacks a robust asset tracking system. Timothy Clarke, former Treasury agent and CEO of ECC Solutions, pointed out that the agency has long faced security risks in cryptocurrency management, including transmitting Bitcoin deposit addresses via unencrypted emails.
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