{"id":130123,"date":"2025-05-27T22:15:37","date_gmt":"2025-05-27T22:15:37","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=130123"},"modified":"2025-05-27T22:15:37","modified_gmt":"2025-05-27T22:15:37","slug":"trump-supports-bill-to-buy-1-million-btc-senator-lummis","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=130123","title":{"rendered":"Trump supports bill to buy 1 million BTC \u2014 Senator Lummis"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsUS President Donald Trump supports the BITCOIN Act and has a team of experts in the White House working to roll out landmark digital asset legislation in the coming weeks, according to Wyoming Senator Cynthia Lummis.\u00a0<br \/>\nSpeaking at the Bitcoin 2025 conference in Las Vegas, Nevada, Lummis said she is bringing the BITCOIN ACT to the \u201cattention of the American people and the world,\u201d adding that, \u201cPresident Trump supports the bill.\u201d<br \/>\nIn March, Lummis reintroduced the BITCOIN Act \u2014 landmark legislation that directs the US government to acquire 1 million Bitcoin (BTC) over five years. The acquisitions would be financed using existing funds within the Federal Reserve System and the Treasury Department.\u00a0<br \/>\nAs Cointelegraph reported, the Trump administration has reiterated the need to use \u201cbudget-neutral ways\u201d to acquire Bitcoin without burdening taxpayers.<br \/>\nSource: CryptoGoosAt the Bitcoin Conference, Lummis said the Trump administration has a team working on \u201cdigital asset issues,\u201d including legislation on stablecoins, market structure and the Bitcoin Strategic Reserve.<br \/>\n\u201cThey will probably roll out in that order,\u201d she said.<br \/>\n\u201cThe Senate Banking Committee has passed the stablecoin bill out of committee,\u201d said Lummis, adding:<br \/>\n \u201cWe\u2019re getting close to being ready to have it on the floor. We\u2019ve worked for untold hours with the minority party to satisfy them, and we should be voting on it the week before we get back from this break.\u201d<br \/>\nRelated: Senator Lummis\u2019 new BITCOIN Act allows US reserve to exceed 1M Bitcoin<br \/>\nGENIUS Act on stablecoins is \u201cgoing to pass,\u201d says White House crypto czar<br \/>\nThe White House seems to be in alignment with Senator Lummis.<br \/>\nLast week, Trump\u2019s top crypto adviser, David Sacks, said the GENIUS stablecoin bill is \u201cgoing to pass\u201d the Senate with bipartisan support after clearing a key procedural vote on May 19.<br \/>\nOn May 19, the Senate voted 66 to 32 to advance debate on the GENIUS Bill. Source: US SenateGENIUS refers to the Guiding and Establishing National Innovation for US Stablecoins Act, possibly the most comprehensive federal push to establish a legal framework for dollar-pegged stablecoins.<br \/>\nStablecoins have become one of the most prominent use cases for blockchain technology, with some industry advocates arguing that they could help extend the US dollar\u2019s dominance as the global reserve currency.<br \/>\nCollateralized, dollar-backed stablecoins like Tether\u2019s USDt (USDT) and Circle\u2019s USDC (USDC) account for more than 85% of the $250 billion market, according to CoinMarketCap.<br \/>\nRelated: Former CFTC chair criticizes STABLE Act amid calls for urgent regulatory clarity<a href=\"https:\/\/cointelegraph.com\/news\/president-trump-supports-bitcoin-bill-senator-lummis?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsUS President Donald Trump supports the BITCOIN Act and has a team of experts in the White House working to roll out landmark digital asset legislation in the&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/130123"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=130123"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/130123\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=130123"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=130123"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=130123"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}