Senator Cynthia Lummis is enough revised 'Bitcoin Act' for the purchase of 1 million Bitcoin - support from the Senate and House of Representatives

Senator Cynthia Lummis is enough revised 'Bitcoin Act' for the purchase of 1 million Bitcoin - support from the Senate and House of Representatives

cynthia lummis presents revised Bitcoin act

At an event by the "Bitcoin Policy Institute", the Senator of Wyoming, Cynthia Lummis, announced that she re -submitted her bill to buy 1 million Bitcoin. The revised "Bitcoin Act" has now won several supporters in the House of Representatives and the Senate, as reported by block trainer.de.

Republican Congress Member of Nick Begich, who brought the draft law in the House of Representatives, emphasizes that the focus is on budget -neutral purchases of the asset. This orientation matches the views of the White House.

During a private round of talks at the event, the question arose whether the Trump administration supports Lummi's draft law. One participant reported that Bo Hines, a representative of the White House, emphasized that the White House wanted to support legislation that legally defines a strategic bitcoin reserve. In addition, pressure was exerted to ensure that this legislation goes through the congress.

However, an official of the White House told Decrypt that Bo Hines had not expressly supported any specific legal proposal during the event. This statement does not necessarily contradict what the participant mentioned, since Hines had not referred to the Lummis bill, but to the general legislation on the Bitcoin reserve.

FAZIT

The revised Bitcoin Act by Cynthia Lummis could play an important role in future legislation around Bitcoin. The developing discussions in the congress and the support of both Republicans and the White House could pave the way for the legal purchase of Bitcoin as a strategic reserve. The next steps will show whether and how these initiatives are promoted in the congress.