Online reports that Democratic Leader Gerald Connolly of the U.S. House Oversight and Government Reform Committee urged the U.S. Treasury Department to stop plans to create a strategic cryptocurrency reserve after President Donald Trump pursued the establishment of a national Bitcoin reserve and a personal cryptocurrency reserve. In a letter to the Treasury Department on Thursday, the Virginia Democratic lawmaker pointed to a "clear conflict of interest" in Trump's push to create reserves. Gerald Connolly said Trump did not consult Congress or "seek congressional authorization" to create reserves. The letter said: "Establishing a strategic cryptocurrency reserve will enrich the president and his closest allies at the expense of U.S. taxpayers." I urge a halt to all plans to build strategic cryptocurrency reserves and require briefings to be provided to staff of the Oversight and Government Reform Commission."