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Source: Senator Lummis May Announce BTC Strategic Reserve Legislation At The Bitcoin Conference
Summary: According to FOX Business, three crypto industry executives familiar with the bill said that Republican Senator Cynthia Lummis of Wyoming, who supports cryptocurrency, is planning to announce BTC strategic reserve legislation at the Bitcoin Conference 2024. While the specific content of the bill is unclear, according to a person who has seen the first draft, ...
According to FOX Business, three crypto industry executives familiar with the bill said that Republican Senator Cynthia Lummis of Wyoming, who supports cryptocurrency, is planning to announce BTC strategic reserve legislation at the Bitcoin Conference 2024.
While the specific content of the bill is unclear, according to a person who has seen the first draft, the purpose of the bill is to allow the Federal Reserve to buy Bitcoin and hold it as a reserve asset, just as the U.S. central bank holds gold and foreign currencies, to help maintain the U.S. monetary system and keep the value of the dollar stable.
As of press time, Lummis's plan remains undetermined and may be delayed. But people who have had direct contact with some of Lummis's staff said she hopes to announce her bill at the meeting on Saturday, and her staff hopes that Trump will support the bill and the ideas behind it.
Tags: Bitcoin,Bitcoin Conference 2024,Cynthia Lummis
Link: Source: Senator Lummis May Announce BTC Strategic Reserve Legislation At The Bitcoin Conference [Copy]
