PANews reported on March 14 that according to Decrypt, the U.S. Treasury Department met with executives from three crypto custody companies this week to discuss how to ensure the security of the country's strategic Bitcoin reserves. Anchorage Digital CEO Nathan McCauley confirmed that the meeting focused on Bitcoin custody best practices, the impact on stablecoins and market structure.

People familiar with the matter revealed that the Treasury Department is still studying whether to have a third party hold the Bitcoin reserves, or whether the government will eventually keep them. Currently, the government's various confiscated crypto assets may still need to be held in third-party custody for a long time. Last year, the U.S. Marshals Service designated Coinbase to hold some large digital assets, but did not disclose the specific Bitcoin reserves involved.