TechFlow reported on March 5 that despite support for Trump's proposed U.S. Bitcoin strategic reserve plan among some crypto-friendly members of Congress, its near-term feasibility has been questioned. Senator Cynthia Lummis, the Wyoming Republican who introduced the related legislation, acknowledged that the proposal lacks sufficient support in Congress.
Lummis stated at the New York Bitcoin Investor Day event that even within the Republican party there is resistance. Citing advice from House Financial Services Committee Chairman Tim Scott, she said implementation should be postponed, pointing to inadequate preparation as the main obstacle.
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