Last updated on March 15th, 2025 at 10:16 am
U.S. Congressman Byron Donalds is preparing to introduce a bill designed to safeguard President Donald Trump’s executive order establishing a strategic Bitcoin reserve.
The proposed legislation aims to ensure that future presidents cannot overturn the executive order, effectively codifying it into law. According to a Bloomberg report, the bill’s primary objective is to protect the nation’s digital asset strategy from being dismantled by executive actions in subsequent administrations.
Donalds, a Florida Republican known for his pro-crypto stance and gubernatorial ambitions, emphasized the need for Republican leadership in shaping the future of digital assets. “For years, the Democrats waged war on crypto. Now is the time for Congressional Republicans to decisively end this war,” he stated, highlighting the partisan divide over cryptocurrency regulation.
To secure passage, the bill would require 60 votes in the Senate and a majority in the House of Representatives.
The Trump administration has been widely seen as more pro-crypto than its predecessors, and this executive order underscores that stance by prioritizing digital asset accumulation.
Trump signed the order on March 7 and it mandates the creation of a national Bitcoin reserve and a digital asset stockpile, including major tokens such as XRP, Solana (SOL), and Cardano (ADA). The reserve would be compiled using Bitcoin held by the U.S. federal government, acquired through criminal or civil asset forfeiture proceedings.
The order also instructs the Treasury and Commerce Departments to devise “budget-neutral strategies” for purchasing additional Bitcoin, ensuring that taxpayer funds are not utilized for reserve expansion. It strictly prohibits the sale of any Bitcoin held within the reserve, reinforcing the government’s commitment to long-term asset retention.
The move has garnered support from prominent voices within the crypto community, including venture capitalist and crypto advocate Nic Carter. He praised the executive order as a significant milestone for the industry, calling it a “major step forward” that grants Bitcoin official recognition from the U.S. government while distinguishing it from other cryptocurrencies.
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