According to people familiar with the matter, the US Treasury met with executives from three crypto custodians this week to discuss how to safeguard the national strategic bitcoin reserve. Anchorage Digital was one of the institutions participating in the meeting. Anchorage CEO Nathan McCauley said that Treasury officials conducted detailed inquiries about best practices for bitcoin national reserves and digital asset custodians, and discussed how custody affects stablecoins and market structures. Congressional sources said the Treasury is currently in the research stage and has not yet formed a clear position, but is actively consulting with industry insiders. The current preference is for third-party institutions to hold government bitcoin reserves, and the long-term goal is for the government to eventually achieve self-custody. As for various types of seized digital assets controlled by the government, it may still need to rely on third-party custody for a long time. The US Treasury has no comment.