TechFlow reported, citing Decrypt, that the U.S. Department of the Treasury met this week with executives from three cryptocurrency custodians to discuss how to protect the nation's strategic Bitcoin reserve. According to sources, Anchorage Digital was one of the custodial firms that met with Treasury officials on March 11.
Anchorage CEO Nathan McCauley said government officials asked in detail about best practices for custodying national Bitcoin and digital asset reserves, and also consulted on key topics currently under congressional discussion—such as how custody frameworks could impact stablecoins and market structure. "The Treasury is asking all the right questions, and it’s clear they’re approaching their entry into the digital asset space thoughtfully, recognizing that the U.S. is making history," he said.
A Capitol Hill source familiar with the matter revealed that the Treasury is in the early stages of exploring how best to address the security challenges associated with the U.S. government holding billions of dollars in digital assets over the long term. Key industry decision-makers appear to favor a model where one or more third parties assist in custodying the U.S. government’s Bitcoin reserves, with the long-term goal of the government eventually self-custodying once ready.
