Wyoming Sen. Lummis plans to announce legislation for Strategic Bitcoin Reserve at Nashville conference
Powered by @unfolded- Republican Sen. Cynthia Lummis of Wyoming is preparing to announce new legislation that would require the Federal Reserve to hold some bitcoin as a strategic reserve asset.
- The legislation aims to establish bitcoin as a mainstream financial asset and would direct the Fed to buy and hold bitcoin in the same way it holds gold and foreign currencies.
- Lummis has been shopping the bill to her colleagues on the Senate Banking Committee to get co-sponsors.
- The implementation of bitcoin as a reserve asset would require the support of the president and Congress, but it would be a significant step towards mainstream acceptance of bitcoin.