A new bill to be proposed in Congress aims to formally establish the U.S. strategic Bitcoin reserves by President Donald Trump, a move that could further integrate Bitcoin into U.S. financial strategy.
Trump signed an executive order on March 7 to use Bitcoin (BTC) Seizure in government criminal cases Establish a national reserve.
The legislation proposed by U.S. representative Byron Donalds is intended to ensure that Bitcoin reserves become permanent fixtures to prevent future governments from dismantling them by executing actions.
source: Margo Martin
Donalds, a Republican of Florida, is in a statement Bloomberg. “It’s time for Congressional Republicans to decide to end this war.”
If the bill passes, it will ensure that strategic bitcoin reserves and U.S. digital asset inventory cannot be eliminated through future government actions.
The bill will require at least 60 votes in the Senate and House majority. and Republicans hold a Senate majority – and generally more suitable cryptocurrency positions – the bill has a chance to pass.
The U.S. states with Bitcoin Reserves Act proposals. source: Bitcoin
According to Bitcoinlaws, at least 23 U.S. have proposed legislation supporting Bitcoin reserves, reflecting national interest at the national level in integrating cryptocurrencies into fiscal policy.
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The introduction of bills related to Bitcoin reserves marks a critical moment for the wider crypto industry, not just BTC.
According to author and intergovernmental blockchain expert Anndy Lian, the legislation “is intended to consolidate it as a permanent fixture as a permanent fixture, protecting it from reversals by future governments.”
Lian told Cointelegraph that the bill indicated that the U.S. government intends to integrate Bitcoin into its financial framework, adding:
“It is based on Trump’s early enforcement actions, and it has the potential to articulate the administration’s position on digital assets. If passed, the bill could reduce the uncertainty that has long plagued the cryptocurrency space, and institutions such as the SEC and CFTC often clash on jurisdiction.”
He added: “The compiled reserves may encourage more cohesive regulatory approaches, thus providing clearer pathways for businesses and investors.”
However, for government entities that may delay funding and custody solutions to Bitcoin reserves are a daunting step.
Related: European lawmakers silence on U.S. Bitcoin reserves driven by digital euro
Donalds’ bill can also make it clearer about the government’s future Bitcoin acquisition strategy. Although the current plan does not involve government Bitcoin purchases, the order does not rule them out in the future.
The order authorizes the U.S. Treasury and Commerce Secretary to develop a “budget neutral strategy” to purchase more bitcoin as reserves, provided the taxpayer has no additional fees.
