In a significant move to solidify President Donald Trump’s pro-crypto stance, Representative Byron Donalds is set to introduce legislation aimed at codifying the executive order that established a strategic Bitcoin reserve and a U.S. digital asset stockpile. This legislative push comes as part of a broader effort to ensure that future administrations cannot dismantle the reserve through executive action, thereby safeguarding the crypto-friendly policies championed by Trump.
The proposed bill, which requires a Senate majority of 60 votes and a House majority to pass, seeks to cement the U.S. government’s commitment to holding approximately 200,000 Bitcoin as part of its strategic reserve. This reserve is designed to increase in value over time, potentially bolstering the government’s financial position without imposing additional costs on taxpayers. The executive order also mandates that the Treasury and Commerce Departments develop budget-neutral strategies for acquiring more Bitcoin, further solidifying the U.S.’s position in the digital asset space.
Recent developments indicate growing bipartisan support for cryptocurrency legislation in Congress, which could facilitate the passage of this bill. This move aligns with a broader trend in Washington, where there is increasing interest in the digital asset industry. Notably, Senator Cynthia Lummis has suggested funding Bitcoin acquisitions by leveraging the Federal Reserve’s gold reserves, a strategy that could generate substantial funds without burdening taxpayers.
As the U.S. government positions itself as a leader in digital assets, this initiative is expected to influence other countries to consider similar allocations, potentially reshaping the global cryptocurrency landscape. The appointment of crypto-friendly leaders underscores the administration’s commitment to fostering a favorable regulatory environment for digital assets.
In related news, a recent White House Digital Assets Summit highlighted the administration’s efforts to engage with industry specialists and legislators on market frameworks and regulatory measures. This engagement reflects a significant shift in the U.S. government’s stance on cryptocurrencies, moving from skepticism to embracing them as legitimate assets with long-term value potential.
