The newly reintroduced Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2025 by Senator Cynthia Lummis would allow the United States to potentially hold over 1 million Bitcoin (BTC) in its crypto reserves. The bill directs the government to buy 200,000 BTC annually over five years, to be paid for with existing funds within the Federal Reserve and the Treasury Department. If signed into law, the act would allow the US to hold more than 1 million BTC as long as the assets are acquired through lawful means other than direct purchases, including criminal or civil forfeitures, gifts, or transfers from federal agencies. Continue readingDemocratic lawmaker urges Treasury to cease Trump’s Bitcoin reserve plansUS Representative Gerald Connolly, a Democrat from Michigan, called on the Treasury to cease its efforts to create a crypto reserve in the United States.
The lawmaker called on Congress to pass his CBDC Anti-Surveillance State Act to block future administrations from launching a CBDC without congressional approval. Emmer said at the hearing that CBDC technology is “inherently un-American,” adding that allowing unelected bureaucrats to issue a CBDC could “upend the American way of life.”Continue readingTexas lawmaker seeks to cap state’s proposed BTC purchases at $250 millionRon Reynolds, a Democratic state representative in Texas, has proposed a cap for the state’s investment in Bitcoin or other cryptocurrencies. The lawmaker proposed in a bill that the state’s comptroller should not be allowed to invest more than $250 million in crypto.
Connolly criticized the reserve in a letter addressed to Treasury Secretary Scott Bessent, arguing that there’s no “discernible benefit” to Americans and that the move would instead make Trump and his donors richer. Continue readingArgentine lawyer requests Interpol red notice for LIBRA creator: ReportArgentine lawyer Gregorio Dalbon is seeking an Interpol Red Notice for Hayden Davis, the co-creator of the LIBRA token, which caused a political scandal in Argentina. Dalbon submitted a request, seeking the Red Notice, to prosecutor Eduardo Taiano and judge María Servini, who are investigating the involvement of President Javier Milei in the memecoin project. In a filing, the lawyer said there’s a procedural risk if Davis remains free.
or
Share This Story
Article Details
Author / Journalist: Cointelegraph by Ezra Reguerra
The story "New BITCOIN Act would allow US reserve to exceed 1M: Law Decoded" has 479 words across 20 sentences, which will take approximately 2 - 4 minutes for the average person to read.
Which news outlet covered this story?
The story "New BITCOIN Act would allow US reserve to exceed 1M: Law Decoded" was covered 21 hours ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 635 news stories per day.
It's most recent story was published 9 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
