Senator Cynthia Lummis has reintroduced the BITCOIN Act of 2025, which could enable the United States to accumulate over 1 million Bitcoin (BTC) in its cryptocurrency reserves.
The proposed legislation instructs the government to acquire 200,000 BTC each year for five years, financed by existing resources from the Federal Reserve and the Treasury.
If enacted, the law would permit the US to amass more than 1 million BTC, with the condition that these assets are obtained through legal channels other than direct purchases, which could include criminal or civil forfeitures, gifts, or transfers from federal entities.
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Democrat urges Treasury to halt Trump’s Bitcoin reserve initiatives
Representative Gerald Connolly, a Democrat from Michigan, has urged the Treasury to stop its initiatives aimed at establishing a cryptocurrency reserve in the nation. He indicated that there are conflicts of interest related to President Donald Trump and contended that the reserve would not serve the interests of Americans.
In a letter to Treasury Secretary Scott Bessent, Connolly criticized the reserve, asserting that there is no “discernible benefit” for the public and that the effort would primarily enrich Trump and his supporters.
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Argentinian lawyer seeks Interpol notice for LIBRA co-creator: Report
Argentine attorney Gregorio Dalbon is pursuing an Interpol Red Notice for Hayden Davis, one of the creators of the LIBRA token, implicated in a political controversy in Argentina.
Dalbon has submitted a request for this notice to prosecutor Eduardo Taiano and judge María Servini, who are investigating President Javier Milei’s connections to the memecoin initiative.
In his filing, Dalbon expressed concerns about procedural risks if Davis remains at large, suggesting he might have access to funds that could facilitate his evasion or flight to the US.
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US Rep. Emmer calls for support of pro-stablecoin legislation and opposition to CBDCs
During a House Financial Services Committee hearing, Representative Tom Emmer articulated that central bank digital currencies (CBDCs) pose a threat to fundamental American principles. He urged Congress to advance his CBDC Anti-Surveillance State Act to prevent future administrations from implementing a CBDC without legislative consent.
Emmer stated that CBDC technology is “inherently un-American,” warning that permitting unelected officials to introduce a CBDC could disrupt the American way of life.
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Texas lawmaker proposes $250 million cap on proposed state BTC investments
In Texas, Democratic state representative Ron Reynolds has put forth a proposal to limit the state’s investments in Bitcoin and other cryptocurrencies.
The proposed bill stipulates that the state’s comptroller would be restricted to investing no more than $250 million in cryptocurrency. Additionally, it instructs Texas municipalities and counties not to invest beyond $10 million in crypto assets.
This legislative move follows the Texas Senate’s recent approval of a law establishing a strategic Bitcoin reserve within the state.
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