US House Committee Advances Bill to Codify Bitcoin Reserve Into Law
(15 days ago) · 1 source · Summarized by CryptoBipto
US lawmakers have moved a bill through a House committee that would formally establish the Trump administration's Bitcoin reserve as a matter of federal law. The legislation aims to lock in the reserve policy so that it cannot be easily reversed by a future administration. The bill still needs to pass the full House and Senate before it could be signed into law.
WHY IT MATTERS
When a president signs an executive order, it is like writing a rule in pencil — the next president can erase it. Passing a law through Congress is more like writing it in ink, because it requires another act of Congress to undo. This bill would take the US government's Bitcoin reserve, which was created by executive action, and turn it into a formal law. For people new to crypto, this is notable because it signals that some US lawmakers want the federal government to hold Bitcoin as a long-term asset, similar to how the government holds gold in places like Fort Knox. Whether this actually becomes law depends on whether it can get enough votes in both chambers of Congress.
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- cointelegraph.com
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