Senator Cynthia Ramis has reintroduced laws allowing the US government to acquire up to one million Bitcoin (BTC), formalising President Donald Trump's recent executive order, establishing federal Bitcoin reserves.
The Bitcoin Act aims to integrate digital assets into the US financial strategy, requiring the Treasury to manage Bitcoin acquisitions and secure storage. Lummis has positioned the bill as a future prospect measure of economic stability and innovation.
She said in a statement.
“Codified this effort into law will ensure that our country will leverage its digital assets to strengthen its economic future while maintaining global leadership.”
The bill includes five Republican senators: Jim Justice (R-WV), Tommy Tuberville (R-AL), Roger Marshall (R-KS), Marsha Blackburn (R-TN) and Bernie Moreno (R-OH).
Meanwhile, Rep. Nick Begich introduced a peer bill in the house.
If enacted, the bill requires the federal government to purchase up to 1 million BTC (currently valued at around $80 billion) over five years.
The initiative is partially funded by adjustments to the Federal Reserve's net profit and financial certificates based on the Fed's holdings, with the latest valuation covering costs.
The proposal also mandates the establishment of decentralized networks of secure Bitcoin storage facilities across the United States. All acquired Bitcoin will be held for at least 20 years, and restrictions will prevent the Treasury Secretary from selling more than 10% of the reserve in two years.
Lummis' bill differs from the White House's stance on Bitcoin reserves. Trump's executive order has established strategic preparations, but senior officials have shown they prefer indefinite holdings over planned acquisitions.
The administration also highlights the importance of a budget-neutral approach, but Lumis' proposal outlines a broader purchasing framework.
The introduction of this legislation follows an increase in political support for crypto initiatives. Crypto's advocacy group in particular played a key role in the election defeat of Sen. Sherrod Brown, an outspoken critic of the industry. These developments could shape the legislative trajectory of the bill, but their passage remains uncertain.
If passed, the Bitcoin Act will mark a significant change in US monetary policy, positioning Bitcoin as a formal reserve asset and strengthening the country's role in the digital asset economy.
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