The U.S. Treasury is developing a custody framework to standardize how federal agencies store and manage government-held Bitcoin, combining self-custody with third-party custodians rather than relying on a single model. The effort is also intended to improve reporting accuracy so Washington can determine exactly how much Bitcoin it owns and where the assets are held. Estimates of the government’s holdings range from approximately 198,000 BTC to more than 328,000 BTC. Existing practices have varied, with some agencies keeping cold wallets in desk drawers and others using external custodians. Patrick Witt, the former executive director of the White House Crypto Council, previously highlighted the inconsistent arrangements. The framework would cover Bitcoin seized in investigations and assets designated for the Strategic Bitcoin Reserve.