Skip to main content

Senate Leaders Propose Bill To Boost US Crypto Mining And Back Presidential Bitcoin Reserve

Republican Senators Cynthia Lummis and Bill Cassidy on Monday unveiled the Mined in America Act, a proposal designed to bolster domestic crypto mining while formalizing the federal government’s growing interest in Bitcoin (BTC). 

The bill would create a voluntary certification program to encourage US-based development of crypto mining operations and related infrastructure, require certified sites to move away from mining equipment tied to foreign adversaries, and codify President Donald Trump’s executive order establishing a Strategic Bitcoin Reserve.

New Plan To Grow US Crypto Mining

Under the measure, the Department of Commerce would stand up a voluntary “Mined in America” certification for cryptocurrency mining facilities and mining pools. 

Facilities that seek the label would have to phase out mining hardware manufactured by companies linked to foreign adversaries, a provision aimed at reducing reliance on potentially insecure supply chains.

Rather than requesting new budgetary outlays, the bill would channel certified mining projects into existing federal energy and rural development programs to support the transition. 

It also directs federal technical agencies to assist US manufacturers: the National Institute of Standards and Technology and the Manufacturing Extension Partnership would be tasked with helping domestic firms design and produce mining hardware. 

The legislation is backed by the Satoshi Action Fund, which has advocated for policies to expand Bitcoin-related economic activity in the United States.

Strategic Bitcoin Reserve On Statutory Footing

Another high-profile element of the bill would be formal recognition of the Strategic Bitcoin Reserve announced in the White House executive order last year. 

The Mined in America Act would codify that reserve by establishing it within the Department of the Treasury, giving the executive initiative a statutory anchor and signaling bipartisan interest in treating Bitcoin as a matter of public policy and national strategy.

Senator Lummis framed the new crypto bill as part of a broader push to make the United States a leading center for digital-asset activity. “President Trump pledged to make the United States the digital asset capital of the world— and we’re not backing down,” she said in a statement. Lummis added:  

The Mined in America Act brings this industry home through forward-thinking initiatives to secure our financial future. I’m proud to join Senator Cassidy to ensure the future of digital assets is built right here in America.

Crypto

Featured image from OpenArt, chart from TradingView.com



from Bitcoinist.com https://ift.tt/0U46hTs
Labels:

Comments

Post a Comment

Popular posts from this blog

Coinbase Adds Wormhole To Spot Trading As Solana Infrastructure Tokens Gain Visibility

Coinbase listings still matter, even in a market that likes to pretend every token is already globally accessible. The exchange ’s decision to add Wormhole puts another major infrastructure name in front of a much broader pool of traders. That matters because Wormhole is not just another speculative ticker. It sits inside one of crypto’s most important, and most debated, categories: cross-chain connectivity. For more details, visit the official Coinbase platform. TL;DR Coinbase is adding support for Wormhole’s W token on spot markets. The listing gives a higher-profile venue to a token tied to cross-chain infrastructure. It also keeps Solana ecosystem names in front of mainstream exchange users. Why A Wormhole Listing Is Interesting Bridge and messaging infrastructure often do not get the same retail attention as consumer-facing protocols, but they matter enormously to how liquidity and applications move between ecosystems. Coinbase’s listing helps push t...
Post a Comment
Read more

Ethereum On Exchanges Crashes To Historic Low Amid Market Volatility, A Bullish Signal For Price?

Ethereum saw a bounce back above the $3,000 price market , with bullish sentiment gaining momentum among investors, especially those on centralized exchanges. Even with the market experiencing sideways movements, the overall supply of ETH on crypto exchanges has fallen sharply, hitting unprecedented levels. Lowest Supply Of Ethereum On Exchanges Recent signals from on-chain metrics indicate that the Ethereum market environment is undergoing a quiet yet significant transformation. This unfolding trend is due to the sharp drop in the supply of ETH available on cryptocurrency exchanges. Related Reading: Ethereum Network Fatigue? Monthly On-Chain Transactions Drops As Activity Slows Down As reported by Coin Bureau on the social media platform X, ETH supply on centralized exchanges has hit levels not seen in years. With more holders choosing long-term storage, staking, and self-custody over keeping their assets available for trade, this significant supply drain indicates a change in i...
Post a Comment
Read more

Bitcoin Remains Range-Bound As Volatility Declines – Analyst Explains Price Action

Bitcoin has experienced frustrating price action in recent weeks, leaving investors impatient about its short-term direction. The price has been testing crucial supply levels between $98K and $100K, struggling to break out as uncertainty dominates the market. The lack of a clear move has led to speculation about whether BTC is preparing for a breakout or another correction. Adding to the uncertainty, the market was hit by negative news on Friday when crypto exchange Bybit was hacked, resulting in the theft of $1.4 billion in ETH. The incident caused fear and volatility, briefly dragging prices lower. However, Bybit responded quickly to reassure investors, easing some of the initial panic and stabilizing the market. Despite this, Bitcoin continues to consolidate in a tight range. Crypto expert Daan shared an analysis on X, noting that BTC is still ranging while volatility is steadily decreasing. As price compression increases, traders are on high alert for a potential explosive move....
Post a Comment
Read more