Lummis is reproducing the Bitcoin Law, which will allow us to buy $ 80 billion in BTC

Senator Sentea Lomes has submitted a draft law in the US Senate on Tuesday that would allow the US government to buy an additional million bitcoin and write down the strategic Bitcoin Reserve pledged by President Donald Trump.

“By converting the executive measure of the president to permanent law, we can make sure that our nation will carry the full potential for digital innovation to address our national religion while preserving Decipher.

The draft law is called Bitcoin LawHe already has five Monsor in the Senate, and all Republicans. It includes Jim Jadal (R-WWV), Tommy Tobreville (R-Aal), Roger Marshall (R-KS), Marsha Blackburn (R-Tn), and Berni Moreno (R-OH), whose election was to the Senate in November With great help By Pro-Crypto Super PACS.

Representative Nick B. Beach (R-AK) is also planning to present accompanying legislation in the House of Representatives on Tuesday, which reflects Bitcoin Law.

Lomes Representation It would commit to the US government to purchase a million BTC-, which is worth about $ 80 billion in writing-more than 5 years. These huge expenses will be partially funded by clear profits of the Federal Reserve.

The draft law will also require the Treasury Secretary to create a “central network of safe bitcoin storage facilities distributed throughout the United States”, where large quantities of the distinctive symbol will be held in a cold governor.

Its price will also be paid by the Ministry of Treasury, which issues new certificates for gold holdings in the Federal Reserve that reflects the current market prices. Then the Federal Reserve pays the difference between old certificates and new shapes to finance Bitcoin program.

The Treasury Minister will be responsible for coordinating both the new Bitcoin and preserving the reserve. All new BTC should be added to the program for at least 20 years before selling it. Any minister of the current or future treasury will be prohibited from selling more than 10 percent of the reserves during any two years.

Nevertheless, this possible openness to the United States government ultimately sells any amount of BTC stored to transfer profit, different from the White House position on this issue.

Last week, after President Trump signed an executive order that creates a reserve in the Federal Bitcoin, senior White House officials He said Decipher Digital assets must be kept indefinitely with the aim of generating “long -term value”.

The White House also emphasized that any plan to gain an additional bitcoin should be The budget is neutral. Lummis’s suggestion appears to be more bold.

Editor’s note: a story updated for clarity.

Edit Stacy Elliot.