Members of the U.S. Congress met with leaders from the cryptocurrency industry on Tuesday and Wednesday to talk about new laws for a national Bitcoin reserve and market structure.
The meetings included lawmakers such as Alaska Representative Nick Begich, Ohio Senator Bernie Moreno, House Speaker Mike Johnson, House Financial Services Committee Chair French Hill, Majority Whip Tom Emmer, and Wyoming Senator Cynthia Lummis.
Industry executives that attended include Michael Saylor, co-founder of Strategy, and Coinbase CEO Brian Armstrong. The discussions were hosted by Digital Chamber and its affiliates, the Digital Power Network and Bitcoin Treasury Council. Lawmakers and industry leaders met to explore how a strategic Bitcoin reserve could work, why the U.S. might need it, and what policies could support it.
At the roundtable on Tuesday, the BITCOIN Act was a key topic. The bill’s main initiative is to establish a strategic Bitcoin reserve that could strengthen the future of America’s finance
“Legislators and the executives at yesterday’s roundtable agree, there is a need [for] a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future,” said Hailey Miller, director of government affairs and public policy at Digital Power Network.
The group also talked about the next steps, which may include adding the reserve into bigger policy plans that are already being considered.
Republicans Discuss Crypto Market Bills
In a separate meeting, Republican lawmakers met with crypto executives to talk about legislation on market structure. The House had already passed a bill in July, and the Senate is now looking at its own version called the Responsible Financial Innovation Act.
This bill is based on the CLARITY Act and is meant to explain clearly how U.S. financial agencies should watch over and enforce rules for cryptocurrency. The meeting shows that the congress is paying more attention to cryptocurrency, after returning from a month-long break in September.
The BITCOIN Act could turn a previous executive order by President Donald Trump into law, allowing the government to hold up to 1 million Bitcoin in a national reserve. Meanwhile, the market structure bill seeks to define roles and responsibilities for agencies regulating crypto.
Also Read: BTC Inc. And Strategy Extend BFC Partnership To 2030
