US government transfers $288 million in Bitcoin and Ether to Coinbase, raising questions about strategic reserve rules
<p>A $288 million transfer of Bitcoin and Ether to Coinbase Prime is testing the United States government’s emerging cryptocurrency regulations.</p>
<p>Government‑identified wallets transferred 3,941 BTC and 30,007 ETH to Coinbase Prime within approximately eight hours, as tracked by Lookonchain, with Arkham estimating the total value at $288.33 million.</p>
<p>Coinbase Prime serves multiple governmental functions. In July 2024, the U.S. Marshals Service chose the platform for custodial and advanced trading services targeting large‑cap digital assets, creating distinct avenues for asset consolidation, administration, and authorized disposal.</p>
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<h2>Reserve Eligibility Determines Pledge Obligations</h2>
<p>A March 2025 executive order mandates that Bitcoin placed in the Strategic Reserve may not be sold. However, the order defines the reserve narrowly, excluding all crypto held by federal agencies. Bitcoin qualifying for the reserve must be forfeited and free of statutory restrictions or authorized releases.</p>
<p>Reserve status is derived from legal and accounting records, not from wallet identifiers. A violation would require the BTC to be recorded in a reserve account followed by a prohibited sale. Current public data stops at the transfer into Coinbase Prime.</p>
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<p>The 30,007 ETH is governed by a separate policy. Forfeited non‑Bitcoin assets are placed in the U.S. Digital Asset Stockpile, where the Treasury must establish responsible stewardship practices in accordance with applicable law.</p>
<p>An exchange‑address alert provides evidence of the movement. Proof of a completed sale must be documented in a Treasury, Justice Department, or Marshals Service statement; a court or forfeiture order authorizing disposition; or custodian records confirming the execution and handling of proceeds. Until such evidence is paired with an outflow from Coinbase Prime, the transaction remains ambiguous.</p>
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<p><a href="https://cryptoslate.com/us-governments-288m-coinbase-transfer-puts-bitcoin-reserve-rules-through-their-first-major-custody-test/">Source link </a></p>
