The United States Bitcoin Strategic Reserve Act has been formally introduced in Congress

ChainCatcher has learned that the U.S. Strategic Bitcoin Reserve Act, introduced by Senator Lummis-Cynthia, has now been formally introduced in Congress and referred to the Senate Banking Committee, according to information on the official website. The bill aims to “establish the Strategic Bitcoin Reserve and other programs to ensure the transparent management of the federal government's bitcoin holdings, to utilize certain resources of the Federal Reserve System to offset costs, and for other purposes.”

The bill will then go through the Senate, the House of Representatives, and the President to decide whether or not to pass until it becomes law.