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"Trump Administration Pushes for Legislation of Strategic Bitcoin (BTC) Reserves... Congressional Legislative Process Initiated"
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- The Trump administration announced plans to pursue legislation for Bitcoin strategic reserves and digital asset management frameworks.
- A bill will be introduced to establish a Bitcoin reserve agency within the Treasury Department and systematically manage approximately 200,000 Bitcoins.
- The bill is reported to be a measure to legally solidify cryptocurrency policies, which would prevent arbitrary repeal by the administration if passed by Congress.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
The Trump administration is reportedly set to initiate legislative procedures to legalize Bitcoin (BTC) strategic reserves and digital asset management frameworks.
According to Bloomberg on the 14th, Republican Congressman Byron Donalds plans to introduce a bill today to codify the executive order signed by President Trump earlier this month.
The executive order signed by Trump includes establishing an agency within the U.S. Treasury for strategic Bitcoin reserves and creating a framework to manage approximately 200,000 Bitcoins currently held by the U.S. government. It also includes the introduction of a digital asset reserve system to systematically manage existing government-held digital assets.
The media explained, "If the bill passes, it will serve to protect these measures from being repealed by future administrations through executive actions alone," adding, "This appears to reflect Trump's intention to legally solidify his pro-cryptocurrency policies."
Meanwhile, passage of the bill requires 60 votes in the Senate and a majority in the House. However, expectations for its advancement are growing as cryptocurrency-friendly policies have recently been receiving bipartisan support in Congress.
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