The New Bitcoin Act, which has recently been re -presented by US Senator Cynthia Lomes, will allow the government to hold more than 1 million bit coins as part of its new organization Reserve.
This law is introduced for the first time in July, it provides that the US government has purchased 200,000 bit coins (BTC) every year for five years, which has a total of 1 million bitcoin, which will be paid diverse the funds within the Federal Reserve System and the Department of Treasury.
We share a tweet on X’s X – Senator Cynthia Lums (@Sen Limus) March 11, 2025
Proud to reproduce the new Bitcoin Act
The Bitcoin Act is proud to be re -introduced. Let’s secure America’s financial future.pic.twitter.com/jjfmpp7h
– Senator Cynthia Lomes (@Sen Limus) March 11, 2025
Additional bit coins may also come from the US states that voluntarily submit their BTC reserves to the Strategic BitCoin Reserve, even if they are kept in separate accounts.
“By turning the President’s Visionary Executive Action into a lasting law, we can guarantee that our nation will exploit all digital innovation capabilities to face our national debt, while maintaining its competitive advantage in the global economy.”Lomes said, who announced a renewal of the bill during a conference hosted by the Bitcoin Policy Institute on March 11.
Lomes chose new co -sponsor for the law
The Bitcoin Act also has a series of new co -sponsored, including Republican Senators Jim Justice, Tommy Tiberville, Roger Marshal, Marsha Blackburn and Bernie Morino.
“I am proud to join Senator Lomes for this law -based law, which aims to create a bitcoin strategic reserve and codify President Trump’s executive order.”Justice said in a press release.
“This bill represents the US’s permanent leadership in financial innovation, strengthens our economic security, and gives us the opportunity to reduce the confession of national debt.“He added.
Other changes
The bill also sets up a formal diagnostic process for aircraft assets in the thorns of the Bitcoin assets and the reserve.
Initially, the bill provided that all “thorny” assets were kept in the reserve and could not be sold or sold for five years, unless they were adopted by law.
Now the new bill provides that the secretary, after the mandatory detention period, keeps the “dominant asset”, while assessing and maintaining the maximum price assets based on market capitalization.
In the past, BitCoin has especially passed through several thorns to create new crypto currencies in Bitcoin Cash (BCH), which suffered a fork and Bitcoin Gold (BTG) on August 1, 2017, which faced a fork on October 24, 2017.
A few days after signed the Bill presented by the Loomis, through the United States President Donald Trump, about an executive order of establishment, “Strategic BitCoin Reserve” And a “Digital Asset Storage”.
The reserve and storage will initially use the government’s government and criminal cases using the seized crypto currencies, but this reserve will not sell the accumulated bit coins and will use “neutral” methods from a budget point of view to increase its size, while storage tokens can be sold.
