U.S. Congressman Byron Donalds plans to create a bill that protects the Bitcoin strategic reserve President Trump created through his executive order from any future administration.
The news story shows that Donald Trump wants his legislation to make President Trump’s Bitcoin order permanent as a law.
During multiple years, the Democrats fought against cryptocurrency. At this moment Republicans in Congress must take action to end the present conflict when Donald Trump speaks out as a Florida Republican advocate of cryptocurrencies. Donalds works toward his gubernatorial run in Florida by leading the charge to establish crypto-friendly policy.
Congress Debates Making Trump’s Bitcoin Order Law
A majority of House Representatives must support it while 60 Senators including the Vice President, must do the same for the bill to be adopted. The Biden administration received strong criticism from crypto supporters because its regulatory agencies implemented limits on the industry while Trump supported crypto openness.
While Republicans and Democrats stand apart they still support Trump’s efforts to widen crypto adoption.
Through his order, Trump requires the United States to build an official Bitcoin reserve along with a portfolio of popular cryptocurrencies, including XRP, Solana, and Cardano. The government must take seized Bitcoin from criminal and civil forfeiture actions to set up the reserve.
The Treasury and Commerce Departments require budget-neutral solutions to buy more Bitcoin assets for the US government. The order restricts exchanging Bitcoin from the reserve fund to external entities.
AI and crypto policy expert David Sacks thinks federal agencies control 200,000 BTC but this number remains secret because the government has not conducted a full audit.
Congress will now decide if Executive Order 2436 should become part of US law with the introduction of Donalds’ legislation.
