Deputy Kept His Word for Bitcoin: Law Ready to Get 1 Million BTC Annually! - Coin Bulletin

robot
Abstract generation in progress

US Congressman Cynthia Lummis, who recently kept her promise at the Bitcoin 2024 conference, prepared the Bitcoin law.

Congresswoman Cynthia Lummis announced that she has prepared a bill that allows states to voluntarily hold Bitcoin in their reserves. The draft is recorded under the name "Bitcoin Hareketi 2024- BITCOIN Act of 2024".

If the draft is enacted, a national Bitcoin purchase program will be created to purchase a maximum of 200,000 Bitcoin per year for a total of 1 million Bitcoin within five years.

According to the draft version of the proposal, states can voluntarily participate in storing Bitcoin assets in reserves. Current laws do not allow states to hold Bitcoin as a reserve asset. In this context, products such as gold, silver, and retirement funds are accepted.

On July 27, during the Bitcoin conference, Lummis stated that the US should buy 1 million Bitcoins worth 68 billion dollars over the next 5 years and called for legislation.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 1
  • Share
Comment
0/400
ItTakesTenYearsToShvip
· 2024-08-01 02:56
Grasp the trend and make a fortune in 2024! 💸
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)