U.S. Representatives intend to pass legislation to ensure strategic Bitcoin reserve policy is not revoked by future presidents

PANews March 14th news, according to Bloomberg, U.S. Rep. Byron Donalds plans to submit a draft legislation to formally legislate the recently signed executive order by the Trump administration, which aims to establish strategic Bitcoin reserves and U.S. digital asset reserves. If the bill is approved, it will ensure that the policy will not be revoked by a future president's executive order.

Trump's executive order requires the U.S. Treasury Department to set up Bitcoin reserves and hold about 200,000 Bitcoins, while authorizing the Treasury and Commerce Department to formulate a "budget neutral" strategy to further increase Bitcoin reserves. In addition, the order also establishes a Ministry of Finance’s digital asset reserve to store existing and future digital assets obtained from the confiscation of criminal or civil assets, and explicitly prohibits the sale of Bitcoin in the reserve.