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Florida Governor Candidate Byron Donalds Pushes Legislation to Protect Trump’s Bitcoin Executive Order from Future Reversals
By Vivian Nguyen
In a bold move, Florida Governor candidate Byron Donalds has announced his intention to introduce legislation that would codify President Donald Trump’s recent executive order establishing a strategic Bitcoin reserve and US digital asset stockpile into law.
Donalds’ proposed bill aims to safeguard the policy from being overturned by a future president who may hold differing views on Bitcoin and other digital assets. The legislation, if passed, would ensure the long-term protection of Trump’s order and its implications for the cryptocurrency market.
The executive order, issued earlier this month, authorizes the Treasury and Commerce Departments to develop “budget-neutral strategies” for acquiring additional Bitcoin without taxpayer costs and prohibits selling reserve Bitcoin. Additionally, it establishes a stockpile of other digital assets currently owned by the Treasury Department and future assets obtained through criminal or civil asset forfeiture.
Donalds, a staunch supporter of cryptocurrencies, has been vocal about his intention to transform Florida into the world’s financial capital through digital asset initiatives. In a recent interview with FOX Business, he advocated for establishing a Bitcoin reserve in his state as part of its financial strategy. He emphasized that Bitcoin, similar to gold, is a store of value due to its scarcity and long-term appreciation.
The proposed legislation faces significant hurdles before it can become law. To pass, it would require securing 60 votes in the Senate and a majority in the House to overcome a filibuster and proceed to a final vote. However, as lawmakers from both parties increasingly support crypto-related legislation, Donalds’ bill still holds a glimmer of hope for success.
The move is seen by some as an attempt by Donalds to solidify his stance on the issue and appeal to the growing crypto community.
Source: https://cryptobriefing.com/bitcoin-reserve-law-trump/
