Senator Cynthia Lummis says the United States will ultimately flip its consideration to the Bitcoin Reserve Bill, following progress on the much-debated stablecoin laws. This improvement, shared on stage at The Bitcoin Conference, has sparked renewed curiosity within the authorities’s stance on digital property, particularly Bitcoin.
Cynthia Lummis: Bitcoin Reserve Bill Is Next In Line
In a now-viral publish on X, Senator Lummis made headlines on the Bitcoin Conference. She introduced that the Senate will start work on the Bitcoin Reserve Bill after wrapping up discussions on the GENIUS Act stablecoin invoice.
Congressman Nick Begich launched the Bitcoin invoice on March 11, 2025. This invoice proposes that the U.S. The Treasury ought to start buying up to 1 million Bitcoin models over 5 years. If handed, it could again the established Strategic Bitcoin Reserve held in belief by the federal government.
This will mark a large shift in how the United States views Bitcoin. The nation will see it as a digital asset and a strategic one. It is value noting that President Trump not too long ago signed an executive order to set up a Strategic Bitcoin Reserve, therefore driving the huge popularity of the highest coin.
In a latest post on X, American Journalist Eleanor Terrett reported that Senator Cynthia Lummis believes the federal authorities at the moment holds round 200,000 Bitcoin.
However, she acknowledged the determine is unsure, as the knowledge has reportedly been labeled following a White House-ordered audit. Lummis added that she has been supplied a non-public briefing for additional clarification.
The Senate Progress on the Stablecoin Bill
Meanwhile, the Senate had taken a big step towards advancing the GENIUS Act, which goals to regulate stablecoin issuers.
A cloture vote on May 21 pushed the invoice previous a key procedural hurdle, permitting it to transfer ahead to the modification stage. CoinGape reported that the vote was 66 to 32, reviving the invoice after Democrats initially tried to block it.
Senator Bill Hagerty, who launched the GENIUS Act, mentioned the invoice is supposed to supply a correct authorized framework for stablecoins within the U.S. monetary system. However, critics like economist Peter Schiff issued a stablecoin warning, noting that the property might pull capital away from conventional markets and gasoline extra crypto hypothesis.
Bitcoin Conference Pushes For Guiness World Record
More highlights are coming from the Bitcoin Conference, which is ongoing in Las Vegas in the meanwhile.
In an X post from the official account of The Bitcoin Conference, the organizers introduced a daring plan. They intention to break the Guinness World Record for essentially the most Bitcoin transactions at a single occasion.
As revealed within the X publish, Speakers Rizzo and Marty inspired attendees to put together their wallets for the showdown. Notably, some market contributors imagine that this record-breaking try might trigger a stir within the finance world, which can in the end lead to a worth swing for Bitcoin.
For this publication, CoinMarketCap knowledge exhibits that the most important digital asset was buying and selling at $110,220.15, up 0.71% in 24 hours.
Godfrey Benjamin
Benjamin Godfrey is a blockchain fanatic and journalists who relish writing about the actual life functions of blockchain expertise and improvements to drive common acceptance and worldwide integration of the rising expertise. His needs to educate individuals about cryptocurrencies conjures up his contributions to famend blockchain based mostly media and websites. Benjamin Godfrey is a lover of sports activities and agriculture.
Disclaimer: The offered content material might embrace the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability on your private monetary loss.
