Japanese authorities will not create a national Bitcoin reserve fund due to the high risks of investing in cryptocurrency.
On December 11, Japanese parliamentarian Satoshi Hamada proposed to include BTC in the list of foreign exchange reserves in order to start buying digital assets with budget funds. However, the country's Prime Minister Shigeru Ishiba opposed of this proposal because Bitcoin does not meet the definition of “foreign exchange reserve” and does not allow for the stabilization of the foreign assets and bonds market.
According to government officials, the main purpose of forming foreign exchange reserves is to ensure the financial security of the state and increase the liquidity of assets stored in the treasury. Given the fact that the BTC rate is highly volatile, buying cryptocurrency increases, rather than decreases, the threat associated with financial losses.
US Federal Reserve Chairman Jerome Powell recently expressed skepticism about the creation of a Bitcoin reserve fund. The official said , that the American central bank has no right to own BTC, since the list of reserve assets is regulated by law, and kriptovalyuta is not included in it. Therefore, Donald Trump will be able to implement his plan to establish a reserve fund for bitcoins only if amendments are made to the current legislation.
According to the Arkham platform, the US government holds $19,9 billion in digital assets confiscated from criminals in its crypto wallets. The lion's share of these funds, $19,5 billion, is in Bitcoin, with the second place in this indicator being эфириум , and on the third – Tether (USDT).
Cryptocurrencies held by US authorities
