U.S. President Donald Trump has expressed strong support for the BITCOIN Act, legislation mandating the U.S. government to acquire one million bitcoins over the next five years. Funding for this initiative will be sourced from existing reserves held by the Federal Reserve and Treasury Department, according to Wyoming Senator Cynthia Lummis’ announcement at the Bitcoin 2025 conference. The White House has assembled a team of experts to advance digital asset legislation, focusing on stablecoins, market structure, and a strategic bitcoin reserve. These legislative initiatives are expected to be introduced in phases.
Senator Lummis highlighted that the Senate Banking Committee recently passed the stablecoin bill, with a full Senate vote anticipated within the coming week following consultations with the minority party. David Sacks, Trump’s chief crypto advisor, previously reported that the GENIUS Stablecoin Act achieved procedural approval with a 66:32 vote on May 19th, and is poised to garner bipartisan support for final passage.
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