Trump's Bitcoin Law Will Be Presented to the U.S. Congress

U.S. President Donald Trump signed an executive order establishing the U.S. Strategic Bitcoin Reserve earlier this month. While it was announced that there will currently be no new BTC purchases, that the U.S. will hold BTC on hand, there are also claims that new ways of buying BTC will be studied. As uncertainty surrounding Bitcoin reserves continues, U.S. Congressman Byron Donalds will introduce a bill enacting an executive order signed by Trump, establishing a U.S. strategic Bitcoin reserve and digital asset reserve. According to Bloomberg, Byron Donalds will introduce a bill today aimed at securing the nation's BTC reserves. Passage of the bill would ensure that reserves and stockpiles cannot be erased by executive orders of subsequent presidents. The bill needs 60 votes in the Senate and a majority vote in the House to take effect. The executive order signed by Trump calls for the establishment of a Bitcoin reserve fund within the Treasury Department to hold approximately 200,000 Bitcoins held by the U.S. government. This executive order also allows the Treasury Department and Commerce Department to develop budgetary strategies to purchase additional Bitcoin into the reserve without additional cost to taxpayers and prohibits the sale of any Bitcoin in the reserve.