New BITCOIN Act would allow US reserve to exceed 1M: Law Decoded
17 Marzo 2025 - 8:00PM
Cointelegraph
The newly reintroduced Boosting Innovation, Technology, and
Competitiveness through Optimized Investment Nationwide (BITCOIN)
Act of 2025 by Senator Cynthia Lummis would allow the United States
to potentially hold over 1 million Bitcoin
(BTC) in its crypto reserves.
The bill directs the government to buy 200,000 BTC annually over
five years, to be paid for with existing funds within the Federal
Reserve and the Treasury Department.
If signed into law, the act would allow the US to hold more than
1 million BTC as long as the assets are acquired through lawful
means other than direct purchases, including criminal or civil
forfeitures, gifts, or transfers from federal agencies.
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reading
Democratic lawmaker urges Treasury to cease Trump’s Bitcoin
reserve plans
US Representative Gerald Connolly, a Democrat from Michigan,
called on the Treasury to cease its efforts to create a crypto
reserve in the United States. The lawmaker said there were
conflicts of interest with US President Donald Trump and argued
that the reserve would not benefit Americans.
Connolly criticized the reserve in a letter addressed to
Treasury Secretary Scott Bessent, arguing that there’s no
“discernible benefit” to Americans and that the move would instead
make Trump and his donors richer.
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reading
Argentine lawyer requests Interpol red notice for LIBRA
creator: Report
Argentine lawyer Gregorio Dalbon is seeking an Interpol Red
Notice for Hayden Davis, the co-creator of the LIBRA token, which
caused a political scandal in Argentina.
Dalbon submitted a request, seeking the Red Notice, to
prosecutor Eduardo Taiano and judge María Servini, who are
investigating the involvement of President Javier Milei in the
memecoin project.
In a filing, the lawyer said there’s a procedural risk if Davis
remains free. The lawyer argued that Davis could have access to
funds that might allow him to go into hiding or flee to the
US.
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reading
America must back pro-stablecoin laws, reject CBDCs — US Rep.
Emmer
In a House Financial Services Committee hearing, US
Representative Tom Emmer said that central bank digital currencies
(CBDCs) threaten American values. The lawmaker called on Congress
to pass his CBDC Anti-Surveillance State Act to block future
administrations from launching a CBDC without congressional
approval.
Emmer said at the hearing that CBDC technology is “inherently
un-American,” adding that allowing unelected bureaucrats to issue a
CBDC could “upend the American way of life.”
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reading
Texas lawmaker seeks to cap state’s proposed BTC purchases at
$250 million
Ron Reynolds, a Democratic state representative in Texas, has
proposed a cap for the state’s investment in Bitcoin or other
cryptocurrencies.
The lawmaker proposed in a bill that the state’s comptroller
should not be allowed to invest more than $250 million in crypto.
The bill also directs Texas municipalities or counties to not
invest more than $10 million in crypto.
The proposed bill follows the Texas Senate’s approval of
legislation establishing a strategic Bitcoin reserve in the
state.
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reading
...
Continue reading New BITCOIN Act would allow US
reserve to exceed 1M: Law Decoded
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New BITCOIN Act would allow US reserve to exceed 1M:
Law Decoded appeared first on
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