As a seasoned observer of the dynamic world of cryptocurrencies and politics, I find myself intrigued by the progress of the Bitcoin Reserve Bill. Having witnessed the rise and fall of various legislative initiatives in this space, I must admit that the momentum behind this bill is unprecedented.
Progress on the U.S. Bitcoin Reserve Bill is advancing as reported by its sponsor, Senator Cynthia Lummis. As per the cryptocurrency-friendly senator, the bill has been forwarded to the Senate Banking Committee for further discussion and consideration.
Bitcoin Reserve Bill: a Silent Game Changer
The Bitcoin Reserve Act gained traction following Coingape’s earlier report that Senator Lummis made it public in July. As bipartisan backing increases, the bill’s progression to the Senate Banking Committee significantly boosts its chances of becoming law.
The Bitcoin Act of 2024, labeled as S.4912, has now been presented and assigned to the relevant Banking committee for consideration.
You can follow along on
— Cynthia Lummis (@CynthiaMLummis) August 3, 2024
In a significant turning point for the United States, many political figures like Donald Trump and Kamala Harris are aiming to act in the best interest of cryptocurrency. With the potential to gain substantial support from the crypto community, there’s a strong possibility that this legislation could be approved and enacted into law.
If signed, the Bill will back the government into building a BTC stockpile.
This is a developing story, please check back for updates!!!
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2024-08-03 22:20