Source: Cointelegraph Original: "{title}"
Senator Cynthia Lummis has recently reintroduced the "2025 Bill to Optimize National Investment to Promote Innovation, Technology, and Competitiveness" (BITCOIN), which would allow the United States to hold over 1 million bitcoins (BTC) in its cryptocurrency reserves.
The bill instructs the government to purchase 200,000 bitcoins annually over five years, funded by existing resources from the Federal Reserve and the Treasury.
If signed into law, the bill would permit the U.S. to hold over 1 million BTC, as long as these assets are acquired through legal means other than direct purchase, including criminal or civil forfeiture, gifts, or transfers from federal agencies.
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Democratic Congressman Gerald Connolly from Michigan has called on the Treasury to halt efforts to establish a cryptocurrency reserve in the U.S. The congressman stated that this poses a conflict of interest with former President Donald Trump and believes that the reserve would not benefit Americans.
In a letter to Treasury Secretary Scott Bansen, Connolly criticized the reserve plan, arguing that it offers no "obvious benefits" to Americans and would instead enrich Trump and his donors.
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Argentinian lawyer Gregorio Dalbon is seeking an Interpol red notice for Hayden Davis.
Dalbon submitted a request to Prosecutor Eduardo Taiano and Judge María Servini, who are investigating President Javier Milei's involvement in a memecoin project.
Davis's lawyer stated in a document that if Davis remains at large, he faces procedural risks. The lawyer believes that Davis may secure funding that would allow him to hide or flee to the U.S.
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During a hearing of the House Financial Services Committee, U.S. Congressman Tom Emmer stated that central bank digital currencies (CBDCs) threaten American values. The congressman urged Congress to pass his "CBDC Anti-Surveillance National Act" to prevent future governments from launching CBDCs without congressional approval.
Emmer remarked during the hearing that CBDC technology is "inherently un-American," adding that allowing unelected bureaucrats to issue CBDCs could "subvert the American way of life."
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Texas Democratic State Representative Ron Reynolds has proposed setting a cap on the state's investments in bitcoin or other cryptocurrencies.
The representative introduced a bill stating that the state's comptroller may not invest more than $250 million in cryptocurrencies. The bill also stipulates that cities and counties in Texas may not invest more than $10 million in cryptocurrencies.
The proposed bill comes after the Texas Senate approved legislation to establish a strategic bitcoin reserve in the state.
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