US House committee approves strategic bitcoin reserve bill
- —Bill H.R. 8957 passed the House committee by 28 votes to 21
- —The reserve is created at the Treasury from bitcoin confiscated in criminal and civil cases
- —Reserve coins are prohibited from being sold or exchanged for at least 20 years
- —Regular reporting and an independent audit of the reserve are provided for
Why it matters: Legislative enshrinement of the bitcoin reserve reduces the risk of Trump's policy being reversed and creates long-term demand from the state.
Source: Blockmedia