The US government is now a bitcoin whale. That has consequences.

By Michael Diaz, Jr., Ishmael Green and Prince-Alex Iwu.

June 5, 2025

Washington’s 2025 crypto pivot has made the federal government both the world’s newest bitcoin whale and a primary shaper of digital-asset rules. With a Strategic Bitcoin Reserve, the SEC’s rollback of custody‑accounting penalties, and an imminent stablecoin bill, Treasury is shifting from regulator to market participant. For banks, that collision of policy and market power ushers in a fresh mix of anti-money-laundering, cybersecurity, market-volatility and sanctions-screening risks that demand immediate attention.

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