Members of the US Congress have encountered key figures from the cryptocurrency industry to discuss potential problems and laws related to the creation of a strategic bitcoin reserve and a market structure.
On Tuesday, a group of legislators who included the representative of Alaska, Nick Begich and the Senator of Ohio, Bernie Moreno, met the co-founder of the Michael Saylor strategy and others in a round table concerning the Bitcoin law, a bill to establish a Bitcoin Strategic Reserve (BTC). The discussion was organized by the Chamber Digital of the plea organization and its affiliated companies, the digital power network and the Bitcoin Treasury Council.
“The legislators and managers of the Round Table of yesterday agree, there is a need (for) a Bitcoin reserve law to ensure its longevity for the financial future of America,” said Cointelegraph Hailey Miller, director of government and public policies at Digital Power Network. “Most participants are looking for the next steps, which can mean, including the SBR in the wider political frameworks that are already advancing.”
In addition, several republican legislators, including the president of the Chamber, Mike Johnson, president of the Financial Services Committee of the Chamber French Hill and the majority whip Tom Emmer, met on Tuesday of the leaders of Crypto companies, including the CEO of Coinbase, Brian Armstrong, to discuss the questions related to the industry. The talks included the progress of the legislation for the structure of the market, which the House of Representatives adopted in July.
On Wednesday, another round table with republican leaders in the Senate banking committee, including the Wyoming senator, Cynthia Lummis, was tried to examine the progress of a market structure bill.
The Republican senators said that their version, provisionally called the responsible financial innovation law, had been built on the Clarity Act, which was adopted by the House in July and should have a committee vote by the end of September.
In relation: US dry crypto task force to tackle financial surveillance and confidentiality
The three round tables indicated that the Republican legislators continued to focus on the legislation linked to the crypto and blockchain industry after having ended a recess of a month in September.
Crypto Bills in consideration, awaiting votes
The Bitcoin law should codify an executive decree signed by US President Donald Trump in March, opening a legal avenue for the government to have up to 1 million BTC in a national reserve.
The market structure bill, although still under discussion in the Senate, should clarify the role that US financial agencies would have in the supervision and application of regulations related to crypto.
Review: Bitcoin mining industry “ will be died in 2 years’: Bit digital CEO