Democrat Rep. Gerald E. Connolly is demanding that the US Treasury intervene in a political dispute over the Trump administration’s efforts to create a US crypto reserve. He sent a letter to Scott Bessent urging the Department to cease all attempts to create the crypto reserve.

President Trump is pushing for a cryptocurrency reserve, and digital currency enthusiasts are hopeful. But critics are still wary of the speculative tender.

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House Oversight Democrats are encouraging President Trump to abandon his plans for a crypto reserve, calling it a strategy to enrich himself at taxpayer expense. The reserve, announced by Trump last week as both a strategic bitcoin reserve and “digital asset stockpile” for other forms of digital currency,