BlockBeats News, September 17th, according to Crypto in America, the U.S. Congress held a meeting on Bitcoin Strategic Reserve Legislation on September 17th. Several Republican lawmakers including Senators Ted Cruz and Marsha Blackburn, as well as industry representatives such as MicroStrategy founder Michael Saylor, attended the meeting.
The “BITCOIN Act” was reintroduced by Senator Cynthia Lummis in March of this year. The bill aims to designate Bitcoin as a national strategic reserve asset on par with gold and requires the U.S. government to acquire 1 million bitcoins over the next 5 years. Hailey Miller, Policy Director of Digital Power Network, stated that there was strong consensus among attendees on the need for a strategic Bitcoin reserve, and the next step will be to integrate it into a broader policy framework. This proposal is a further extension of the policy previously enacted by President Trump to ban the sale and seizure of Bitcoin.
It is worth noting that this proposal still faces controversy outside the cryptocurrency community, and Lummis herself acknowledged that convincing her congressional colleagues may take some time.
