VanEck Crypto Head: U.S. Bitcoin Reserve Policy Needs Legislation, Not Executive Order

News 1 reported that an analysis has suggested that legislation, rather than an executive order, is necessary for the United States to include Bitcoin as a national strategic asset.
According to Cointelegraph, on the 27th (local time), VanEck's head of research, Ma SHOO Siegel, said:
"The most effective way to create a strategic Bitcoin reserve in the United States is to amend the bill," he said. "We can provide tax breaks for mining companies that reuse methane gas, and we can provide a Bitcoin reserve ...
"If we implement a policy to attribute a portion of the coin mining volume to the government, we can expand the strategic reserve," he said. He said such an approach would allow reserves to grow over time.
"The problem with administrative actions is that they can lead to litigation. Any amount over $100 million is a scam," he said.
"People like Mr. Wallace will be suing us," he said, adding, "A good place to start would be to invest $100 million in the Foreign Exchange Stabilization Fund (ESF)."