Since I am not a US citizen, I don't follow the matter very closely, even though Bitcoin is universal and perhaps I should. But my question is: What's happening now? Where is this seized Bitcoin stored? In exchanges? Because I thought they were already keeping it in their own custody.
This year President Donald Trump signed the
GENIUS Act into law which gave the US government the right to establish a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile. But government is yet to make any purcahse since the law was enacted. So only seized Bitcoins are in the government's disposal.
In
March this year a US top official claimed that the country still owns about forfeitured 200,000 Bitcoin. There is no clarity about how the seized Bitcoins are managed or where they are kept. But last year the government transferred about 19,800 Bitcoin to
Coinbase Prime wallet.Additionally, I think or presumed that the Congress are making demands for the coins being held in their custody that was once transferred to coin base wallets, which they must have suspected for any reason for being sidelined with these funds because they were mostly in bitcoin, now they are requesting for total summary of these funds, which I believed are they confiscated coins and tokens be in their own custody including the acclaimed Bitcoin strategic reserve, they want full account on all these and to be within their control.