Members of Congress from the US met with prominent figures of the crypto industry in order to discuss possible laws and issues related to establishing a Bitcoin strategic reserve as well as a market-structure.
The BITCOIN (Strategy) Act is a proposed bill that would establish a Bitcoin strategic organization.BTC) reserve. Discussion was sponsored by advocacy group Digital Chamber along with its affiliates Digital Power Network, and Bitcoin Treasury Council.
“Legislators and the executives at yesterday’s roundtable agree, there is a need [for] a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future,” Hailey Miller is the director of Government Affairs and Public Policy at Digital Power Network. She spoke to Cointelegraph. “Most attendees are looking for next steps, which may mean including the SBR within the broader policy frameworks already advancing.”
Separately, a number of Republican members, including House speaker Mike Johnson, House Financial Services Committee chair French Hill and majority whip Tom Emmer have spoken out. met On Tuesday, I met with Coinbase CEO Brian Armstrong and other executives of crypto companies to discuss industry issues. Discussions covered the progress of the legislation passed by the House of Representatives in July for the market structure.
Another roundtable was held Wednesday with Republican Leaders on the Senate Banking Committee. This included Wyoming Senator Cynthia Lummis. The discussion focused on the progression of a Market Structure Bill.
Republican senators claimed that their version was based off the CLARITY Act passed by the House of Representatives in July. It is expected to be voted on by a Senate committee by the end September.
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After a one-month recess, the three roundtables showed that Republican legislators were still focused on crypto and blockchain legislation.
Crypto bills under consideration, awaiting votes
The BITCOIN Act was passed in 2009. expected to codify an executive order The US president Donald Trump signed a law in March that allows the government to store up to 1,000,000 BTC as a reserve.
Although the market structure bill is still being discussed in the Senate it will clarify what role US financial agencies have to play in supervising and enforcing crypto regulations.
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Source: cointelegraph.com
