U.S. Senator Cynthia Lummis officially introduced the Bitcoin Strategic Reserve Act

ChainCatcher News, U.S. Senator Cynthia Lummis from Wyoming officially introduced the "Bitcoin Strategic Reserve Act" on July 31, local time. This act will instruct the U.S. government to begin establishing a reserve fund for scarce decentralized assets.

More specifically, the act will create a "decentralized secure Bitcoin network treasury" controlled by the U.S. Department of the Treasury. The act also instructs lawmakers and bureaucrats to develop strict cybersecurity parameters and other physical security measures to ensure that Bitcoin funds are not stolen. The act also proposes a goal of gradually accumulating 1 million Bitcoins.