U.S. Congressman Prepares Law to Make Trump's Bitcoin Decision Permanent! - Coin Newsletter

Byron Donalds, a member of the U.S. House of Representatives, is preparing a bill to make the Bitcoin (BTC) reserve decision signed by President Trump permanent.

Florida Republican Representative Byron Donalds has moved to enact the executive order signed by U.S. President Donald Trump earlier this month, which calls for the creation of strategic Bitcoin reserves and digital asset stocks within the U.S. Treasury. The bill, which will be submitted to Congress on Friday, aims to prevent future administrations from reversing the crypto-friendly policy launched during the Trump era.

If the bill becomes law, it will not be possible to eliminate the Bitcoin reserve by a single decision of any future president. The bill in question needs at least 60 votes to pass the Senate and an absolute majority in the House of Representatives. However, the fact that cryptocurrency-friendly policies have recently started to receive serious support from both parties throughout Congress increases the likelihood that the bill will become law.

Details of Trump's Bitcoin reserve move

The executive order, signed by Trump, provides for the creation of a strategic reserve within the Treasury Department for the approximately 200,000 Bitcoins currently held by the U.S. government. The administration believes that with the rise in the price of Bitcoin, the value of digital assets owned by the government will also increase. The decree also allows the Treasury to create an additional stockpile, including digital assets seized due to current and future criminal activity. In addition, the sale of Bitcoins in the reserve is strictly prohibited.

As the crypto industry's power in Washington has skyrocketed recently, the Trump administration has made its support clear by hosting industry representatives at the White House. Donalds' legislative initiative also demonstrates the U.S.'s commitment to formally making digital assets government policy.