Senator Cynthia Lummis has revealed that she will reintroduce the Bitcoin Act bill in the US Congress. This development is significant as the bill, if passed, would provide further legitimacy for the Strategic Bitcoin Reserve which US President Donald Trump created with an Executive Order last week.
Senator Lummis To Reintroduce Bitcoin Act Bill
In an X post, Senator Lummis revealed that she will reintroduce the Bitcoin Act bill in the US Congress today. She noted that this “landmark legislation” will codify President Trump’s bold vision to establish the US Strategic Reserve and strengthen the nation’s economic foundation for future generations.
As CoinGape reported last week, Donald Trump signed an Executive Order to create the much-anticipated Bitcoin Reserve. The US plans to use its Bitcoin from seizures to make up this reserve. Senator Lummis’ bill, if passed, will provide a major boost for the reserve as it will mandate the US to purchase up to 1 million BTC.
In her post, the Congresswoman stated that Bitcoin is not simply a technological opportunity but a national imperative for America’s continued financial leadership in the 21st century.
By transforming Trump’s Executive Order into law, Lummis stated that the US Congress can ensure that the nation will harness the full potential of digital innovation to address its national debt while maintaining a competitive edge in the global economy.
Texas Lawmaker Introduces Bitcoin Reserve Bill
Amid the reintroduction of the Bitcoin Act bill in the US Congress, a Texas Lawmaker has introduced a bill which proposes that the state acquires up to $250 million worth of Bitcoin and other cryptocurrencies.
It is worth mentioning that there is already a Bitcoin Reserve bill which the Texas Senate recently passed and is moving to the House for consideration. If passed, the US state will become the first to be able to BTC on its balance sheet. These developments undoubtedly provide a bullish outlook for the Bitcoin price, with the flagship crypto enjoying greater acceptance and adoption.
The post Just In: Senator Cynthia Lummis To Reintroduce Bitcoin Act Bill In US Congress appeared first on CoinGape.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed