U.S. Congressman plans to introduce legislation to ensure that the strategic Bitcoin reserve policy cannot be revoked by future presidential executive orders

ChainCatcher News, U.S. Congressman Byron Donalds plans to submit a legislative proposal to formally legislate the executive order signed by the Trump administration this month, which aims to establish a strategic Bitcoin reserve and a U.S. digital asset reserve. If the bill passes, it will ensure that the policy cannot be revoked by future presidential executive orders. Trump's executive order requires the Treasury Department to establish a Bitcoin reserve to hold approximately 200,000 Bitcoins and authorizes the Treasury and Commerce Departments to develop a "budget-neutral" strategy to purchase more Bitcoins while prohibiting the sale of Bitcoins from the reserve. Additionally, the executive order also establishes a digital asset reserve at the Treasury Department for storing existing and future digital assets obtained through criminal or civil asset forfeiture.