Key dealers
- Representative Byron Donalds plans to introduce legislation to codify Trump’s Bitcoin Reserve Executive order.
- Trump’s order allows the US Treasury to hold 200,000 Bitcoin and prohibits selling Bitcoin reserve.
Byron Donald’s, Florida’s governor candidate and strong Bitcoin advocates, are preparing to propose legislation that would anchor President Donald Trump’s latest executive order to establish a strategic Bitcoin reserve and US digital assets in law, according to a Friday Report From Bloomberg.
The bill aims to protect politics from being reversed by a future president who may have different views on bitcoin and other digital assets. Donald’s framed move that ended the Democrats’ war against crypto. “
The proposed legislation would meet tough odds to pass. It would have to secure 60 votes in the Senate and a majority in the Chamber to overcome a Philibuster and continue to a final vote.
But since Republicans and Democrats are increasingly supporting crypto-related legislation, the bill still has a chance to succeed.
Trump’s executive order, Issued Last week, the Treasury and Trade Departments allow to develop “budget -neutral strategies” to acquire further Bitcoin without the taxpayers’ costs and prohibit selling reserve bitcoin. The order also sets up a stock of other digital assets currently owned by the Treasury Department and future assets obtained through criminal or loss of civilian loss.
Donalds, who runs for governor of Florida in next year’s elections, has advocated crypto assets and promised to transform his state into the world’s financial capital through digital asset initiatives.
In a new interview with Fox Business, Donalds suggested that Florida establish a Bitcoin reserve as part of its financial strategy. He claimed that Bitcoin, like gold, is a store of value due to its scarcity and long -term appreciation.
According to him, the Bitcoin reserve would act as a hedge against inflation and federal monetary politics.
This week, senator Cynthia Lummis reinstated Legislation to form a strategic Bitcoin reserve in line with Trump’s executive order, which aims to strengthen the US financial position.
