US Lawmakers to Introduce Bill Safeguarding Bitcoin Reserve

Republican Byron Donalds is set to introduce a bill in the US Congress to enshrine President Donald Trump’s executive order establishing a SBR. This was reported by Bloomberg.

The bill aims to protect the strategic bitcoin reserve from potential revocation by future presidents. If passed, the reserves will remain part of the Treasury’s long-term strategy, regardless of decisions by subsequent administrations.

The bill requires 60 votes in the Senate and majority support in the House of Representatives. However, digital asset advocates are confident it will receive bipartisan approval.

“For years, Democrats have waged a war on cryptocurrency. Now is the time for Republican congressmen to decisively end this war,” Donalds stated.

Trump’s order approved the creation of the SBR from 200,000 BTC already owned by the US. The document also allows for the reserve to be increased through “budget-neutral” mechanisms without taxpayer expense. Selling the first cryptocurrency from the reserve is prohibited.

The document also provides for the creation of reserves of other digital assets already owned by the authorities or that may be seized in the future through court actions.

Earlier, on March 13, Representative Gerald Connolly urged the Treasury to abandon the plan to create the SBR. He argued that the bitcoin reserve would bring “no tangible benefit” and would only enrich Trump and his sponsors.