Lates News

According to Crypto in America, on September 17th, the U.S. Congress held a meeting to promote legislation for Bitcoin strategic reserves. Many Republican lawmakers including Senators Ted Cruz, Marsha Blackburn, as well as industry representatives like Strategy founder Michael Saylor attended the meeting. The "BITCOIN Act" was reintroduced by Senator Cynthia Lummis in March this year, aiming to include Bitcoin in the nation's strategic reserve assets at par with gold, and requiring the U.S. government to acquire 1 million bitcoins in the next 5 years. Hailey Miller, Digital Power Network's policy director, stated that there was a strong consensus among attendees on the necessity of a strategic Bitcoin reserve and the next step would be to integrate it into a broader policy framework. This proposal is an extension of former President Trump's policy prohibiting the sale of confiscated bitcoins. It is worth noting that there is still controversy surrounding this proposal outside of the cryptocurrency community, and Lummis herself acknowledges that convincing her congressional colleagues may take some time.