US congressman has offered to protect Trump’s executive order on the BTC reserve from possible repeal by his successors
To pass, the document must receive majority support in the House of Representatives and 60 votes in the Senate
14.03.2025 - 14:25
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What’s new? Republican Byron Donalds, a member of the US House of Representatives from Florida, will introduce a bill to ensure that cryptocurrency reserves established by Donald Trump’s executive order cannot be liquidated by the next presidents.
What else is known? The document needs the support of a majority of representatives and 60 senators to move forward, with Republicans taking a majority in Congress with the new administration, and regulators following Trump in pushing for more cryptocurrency-friendly policies.
“For years, the Democrats waged war on crypto. Now is the time for Congressional Republicans to decisively end this war,” Donalds said.
Trump’s executive order calls for the creation of a bitcoin reserve from the 200 000 BTC seized in investigations and overseen by the Treasury Department, as well as developing a strategy to buy more coins at no additional cost to taxpayers. The sale of bitcoins from the reserve, meanwhile, is prohibited.
In addition, the decree created a reserve of altcoins whose sale is permitted. This reserve will be formed solely from assets seized by law enforcement officials in criminal and civil proceedings.
Byron Donalds is known as a supporter of cryptocurrencies. He expects to run for governor of Florida next year and promises to make the state the financial capital of the world through digital assets.
The number of mentions of crypto projects in SEC filings has reached an all-time high
EDGAR agency’s database registered more than 5000 keyword mentions
Earlier this month, Texas House of Representatives member and Democrat Ron Reynolds proposed limiting the state’s investment in bitcoin.
Also, the Utah Senate removed a clause from the blockchain bill on the creation of a state-level BTC reserve from the third final reading. Nevertheless, the document guarantees the rights of local residents for mining, staking, and self-storage of assets.
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