TechFlow news, on September 17, according to Crypto in America, the U.S. Congress held a legislative advancement meeting regarding the Bitcoin Strategic Reserve. The meeting was attended by multiple Republican lawmakers including Senators Ted Cruz and Marsha Blackburn, as well as industry representatives such as Michael Saylor, founder of MicroStrategy.
The BITCOIN Act was reintroduced in March this year by Senator Cynthia Lummis. The bill aims to place Bitcoin on equal footing with gold as a national strategic reserve asset and requires the U.S. government to acquire one million bitcoins within the next five years.
Hailey Miller, Policy Director at Digital Power Network, said that participants reached a strong consensus on the necessity of a strategic Bitcoin reserve, and the next step will be advancing its integration into a broader policy framework. This proposal further expands upon President Trump's earlier policy banning the sale of seized bitcoins.
Notably, the proposal remains controversial outside the cryptocurrency community, and Lummis herself acknowledged it may take considerable time to convince her congressional colleagues.
