New BITCOIN Act would allow US reserve to exceed 1M: Law Decoded

The newly reintroduced Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act of 2025 by Senator Cynthia Lummis would allow the United States to potentially hold over 1 million Bitcoin (BTC) in its crypto reserves. 

The bill directs the government to buy 200,000 BTC annually over five years, to be paid for with existing funds within the Federal Reserve and the Treasury Department. 

If signed into law, the act would allow the US to hold more than 1 million BTC as long as the assets are acquired through lawful means other than direct purchases, including criminal or civil forfeitures, gifts, or transfers from federal agencies. 

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US Representative Gerald Connolly, a Democrat from Michigan, called on the Treasury to cease its efforts to create a crypto reserve in the United States. The lawmaker said there were conflicts of interest with US President Donald Trump and argued that the reserve would not benefit Americans.

Connolly criticized the reserve in a letter addressed to Treasury Secretary Scott Bessent, arguing that there’s no “discernible benefit” to Americans and that the move would instead make Trump and his donors richer. 

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Argentine lawyer Gregorio Dalbon is seeking an Interpol Red Notice for Hayden Davis, the co-creator of the LIBRA token, which caused a political scandal in Argentina. 

Dalbon submitted a request, seeking the Red Notice, to prosecutor Eduardo Taiano and judge María Servini, who are investigating the involvement of President Javier Milei in the memecoin project. 

In a filing, the lawyer said there’s a procedural risk if Davis remains free. The lawyer argued that Davis could have access to funds that might allow him to go into hiding or flee to the US. 

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In a House Financial Services Committee hearing, US Representative Tom Emmer said that central bank digital currencies (CBDCs) threaten American values. The lawmaker called on Congress to pass his CBDC Anti-Surveillance State Act to block future administrations from launching a CBDC without congressional approval. 

Emmer said at the hearing that CBDC technology is “inherently un-American,” adding that allowing unelected bureaucrats to issue a CBDC could “upend the American way of life.”

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Ron Reynolds, a Democratic state representative in Texas, has proposed a cap for the state’s investment in Bitcoin or other cryptocurrencies. 

The lawmaker proposed in a bill that the state’s comptroller should not be allowed to invest more than $250 million in crypto. The bill also directs Texas municipalities or counties to not invest more than $10 million in crypto. 

The proposed bill follows the Texas Senate’s approval of legislation establishing a strategic Bitcoin reserve in the state.

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