US President Donald Trump signed the executive order regarding the Bitcoin (BTC) reserve last March, after he officially took office.
Since then, studies on the BTC reserve have continued, with the US House of Representatives introducing a bill ordering the Treasury Department to prepare a plan for Bitcoin reserves.
Accordingly, the US House of Representatives introduced a bill (HR 5166) mandating the creation of a plan on how the federal government will store and manage strategic Bitcoin reserves.
If the bill becomes law, the Treasury Department will be required to prepare a report on how the US strategic Bitcoin reserve will be stored and kept safe.
Experts see the latest bill as an important step towards officially addressing the stockpiling of Bitcoin and other digital assets as national strategic assets and establishing the necessary regulations.
The bill has been referred to the House of Representatives for debate. It will be debated in the House and, if approved, submitted to the Senate.
*This is not investment advice.