A dispute between the Treasury and Commerce departments over who should oversee the proposed U.S. Strategic Bitcoin Reserve has delayed its rollout more than a year after President Trump ordered its creation, according to a Bloomberg report.
Treasury Secretary Scott Bessent told the Senate Finance Committee that the Trump administration is moving forward with a Strategic Bitcoin Reserve and urged Congress to pass the BITCOIN Act and Clarity Act to solidify and expand the effort.
The White House is nearing a formal announcement on a U.S. Strategic Bitcoin Reserve, with Patrick Witt saying the administration has already cleared a key legal hurdle.
Senators Bill Cassidy and Cynthia Lummis introduced the “Mined in America Act” to reshore U.S. bitcoin mining, reduce reliance on Chinese hardware, and codify a Strategic Bitcoin Reserve into law.
House Bill 2080, introduced by Missouri Rep. Ben Keathley, would create a state 'Bitcoin Strategic Reserve Fund' that would allow the treasurer to acquire and manage bitcoin under set guidelines.
Brazilian lawmakers have reintroduced a bill proposing the creation of a Strategic Sovereign Bitcoin Reserve (RESBit) to acquire one million Bitcoin over five years.