US lawmakers have introduced a new bill that may mark a significant step towards creating a reserve of Bitcoin and other digital assets for the federal government.
Bitcoin Reserve Legislation
Representative David P. Joyce introduced the bill in the House, directing the US Treasury Department to study the feasibility, legal framework, and custody requirements for crypto assets. The Treasury is required to submit a report within 90 days of the bill’s enactment.
Global Interest in Digital Assets
This legislation reflects growing interest in reserving digital assets abroad, such as Kazakhstan's proposal for a state fund to accumulate promising digital assets. The Philippines Congress is also considering establishing a reserve of 10,000 Bitcoin.
Impact on National Security and Financial Policy
The bill also looks at the reserve's impact on the Forfeiture Fund and how it fits into broader fiscal policy. If approved by the full House, it will be forwarded to the Senate for consideration.
Efforts to create Bitcoin reserves in the US may signify a new phase in integrating digital assets into fiscal policy, suggesting an update in strategy for managing government-held assets.
