Executive Order 14233

Establishment of the Strategic Bitcoin Reserve and United States Digital Asset Stockpile

Signed March 6, 2025, printed at 90 FR 11789. 4 sections of substance, 1,212 words.

In plain English

This order sets up a national store of bitcoin. Coins already held by the government go into it.

Sec. 1. Background

Bitcoin is the original cryptocurrency. The Bitcoin protocol permanently caps the total supply of bitcoin (BTC) at 21 million coins, and has never been hacked. As a result of its scarcity and security, Bitcoin is often referred to as ``digital gold''. Because there is a fixed supply of BTC, there is a strategic advantage to being among the first nations to create a strategic bitcoin reserve. The United States Government currently holds a significant amount of BTC, but has not implemented a policy to maximize BTC's strategic position as a unique store of value in the global financial system. Just as it is in our country's interest to thoughtfully manage national ownership and control of any other resource, our Nation must harness, not limit, the power of digital assets for our prosperity.

In plain English

This sets out the case the order makes. It says Bitcoin was the first cryptocurrency. It says the supply is capped at 21 million coins. It says the network has never been hacked. It calls the coin digital gold. It says the government already holds a large amount.

Sec. 2. Policy

It is the policy of the United States to establish a Strategic Bitcoin Reserve. It is further the policy of the United States to establish a United States Digital Asset Stockpile that can serve as a secure account for orderly and strategic management of the United States' other digital asset holdings.

In plain English

This states the policy. A strategic bitcoin reserve will be set up. A separate store for other digital assets will be set up too. That store would hold what the government owns. It must be a secure account. The aim is orderly management of those holdings.

Sec. 3.

Creation and Administration of the Strategic Bitcoin Reserve and United States Digital Asset Stockpile. (a) The Secretary of the Treasury shall establish an office to administer and maintain control of custodial accounts collectively known as the ``Strategic Bitcoin Reserve,'' capitalized with all BTC held by the Department of the Treasury that was finally forfeited as part of criminal or civil asset forfeiture proceedings or in satisfaction of any civil money penalty imposed by any executive department or agency (agency) and that is not needed to satisfy requirements under 31 U.S.C. 9705 or released pursuant to subsection (d) of this section (Government BTC). Within 30 days of the date of this order, each agency shall review its authorities to transfer any Government BTC held by it to the Strategic Bitcoin Reserve and shall submit a report reflecting the result of that review to the

In plain English

This sets up the Bitcoin reserve. Treasury must open an office to run it. The reserve holds coins seized in court cases. It also holds coins taken as a penalty. Coins owed elsewhere are not included. Within 30 days each agency must review its holdings. It must then report what it can transfer.

Sec. 4. Accounting

Within 30 days of the date of this order, the head of each agency shall provide the Secretary of the Treasury and the President's Working Group on Digital Asset Markets with a full accounting of all Government Digital Assets in such agency's possession, including any information regarding the custodial accounts in which such Government Digital Assets are currently held that would be necessary to facilitate a transfer of the Government Digital Assets to the Strategic Bitcoin Reserve or the United States Digital Asset Stockpile. If such agency holds no Government Digital Assets, such agency shall confirm such fact to the Secretary of the Treasury and the President's Working Group on Digital Asset Markets within 30 days of the date of this order.

In plain English

This asks for a count in 30 days. Each agency must list the digital coins it holds. It must say where those coins are kept. That lets them be moved to the new stores. An agency holding none must say so. The report goes to Treasury and a working group.

Sec. 5. General Provisions

Every order carries this. It is not what the order does.

(a) Nothing in this order shall be construed to impair or otherwise affect: (i) the authority granted by law to an executive department or agency, or the head thereof; or (ii) the functions of the Director of the Office of Management and Budget relating to budgetary, administrative, or legislative proposals. (b) This order shall be implemented consistent with applicable law and subject to the availability of appropriations. [[Page 11791]] (c) This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person. <GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT> (Presidential Sig.) THE WHITE HOUSE, March 6, 2025. [FR Doc. 2025-03992 Filed 3-10-25; 11:15 am] Billing code 3395-F4-P </pre></body> </html>

In plain English

This is the closing clause that nearly every order carries. It says the order does not change what the law already allows. It also says no one can sue to enforce it.

How this order is quoted

Each section is quoted as the order prints it, under its own number and heading. Executive orders are United States government works and are not under copyright. Long sections are cut at a sentence and the whole order is a click away.