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Senator Cynthia Lummis to Unveil BTC Reserve Bill at Bitcoin Conference 2024: Report

Source Beincrypto

Pro-crypto Senator Cynthia Lummis is set to introduce legislation that could significantly impact the industry. The Wyoming Republican plans to announce her proposal for a Strategic Bitcoin Reserve at the upcoming Bitcoin Conference in Nashville, according to a report by Fox Business on July 24.

This legislation would mark a significant step towards integrating Bitcoin into mainstream financial systems.

Anticipation Builds Around Senator Lummis’ Announcement

The proposed bill aims to require the Federal Reserve to hold Bitcoin (BTC) as a strategic reserve asset, similar to how it holds gold and foreign currencies. This move could position Bitcoin as a critical component in managing the US monetary system and stabilizing the value of the US dollar.

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