U.S. Congress Meets Crypto Leaders on Bitcoin Reserve and Market Laws
On September 16 and 17, members of the U.S. Congress met with cryptocurrency industry leaders. They discussed new laws for a national Bitcoin reserve and market structure reforms.
Key lawmakers included Alaska Representative Nick Begich, Ohio Senator Bernie Moreno, House Speaker Mike Johnson, House Financial Services Committee Chair French Hill, Majority Whip Tom Emmer, and Wyoming Senator Cynthia Lummis.
Industry executives attending the meetings included Michael Saylor, co-founder of Strategy, and Coinbase CEO Brian Armstrong. The events were hosted by the Digital Chamber and its affiliates, the Digital Power Network and Bitcoin Treasury Council.
Focus on the BITCOIN Act and Strategic Reserve
The main topic was the BITCOIN Act, which proposes creating a strategic Bitcoin reserve. This reserve aims to strengthen America’s financial future.
Hailey Miller, director of government affairs at Digital Power Network, said, “Legislators and the executives at yesterday’s roundtable agree, there is a need [for] a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future.”
Discussions also covered integrating the Bitcoin reserve into broader policy plans currently under consideration.
Republicans Discuss Crypto Market Structure Legislation
In a separate meeting, Republican lawmakers met with crypto executives to discuss market structure legislation. The House passed a related bill in July. The Senate is now reviewing its version, called the Responsible Financial Innovation Act.
This bill builds on the CLARITY Act. It aims to clarify how U.S. financial agencies should regulate and enforce cryptocurrency rules.
The meetings reflect growing congressional focus on cryptocurrency after the September recess.
The BITCOIN Act could turn a previous executive order by former President Donald Trump into law. This would allow the government to hold up to 1 million Bitcoin in a national reserve.
The market structure bill seeks to define regulatory roles for agencies overseeing crypto.
