U.S. lawmakers meet with key figures in the cryptocurrency industry to discuss issues and potential legislation related to establishing a strategic Bitcoin reserve and market structure.
On Tuesday, a group of lawmakers, including Alaska Representative Nick Begich and Ohio Senator Bernie Moreno, held a roundtable with Strategy co-founder Michael Saylor and others to discuss the BITCOIN Act aimed at establishing a strategic Bitcoin (BTC) reserve. The discussion was hosted by advocacy organizations Digital Chamber and its affiliates Digital Power Network and Treasury Council.
"Legislators and executives at yesterday's roundtable agreed that a strategic Bitcoin reserve law is needed to ensure the longevity of America's financial future," Hailey Miller, Director of Government Affairs and Public Policy at Digital Power Network, told Cointelegraph. "Most participants are looking for next steps, which could mean incorporating the SBR into a broader policy framework that is already being advanced."
Additionally, several Republican lawmakers, including House Speaker Mike Johnson, House Financial Services Committee Chairman French Hill, and Majority Whip Tom Emmer, met on Tuesday with executives from cryptocurrency companies, including Coinbase CEO Brian Armstrong, to discuss industry-related issues. The talks included advancing the market structure legislation passed by the House in July.
On Wednesday, Republican leaders of the Senate Banking Committee held another roundtable discussion reportedly including Wyoming Senator Cynthia Lummis, aimed at considering the advancement of the market structure bill.
Republican senators indicated that their version is tentatively named the "Responsible Financial Innovation Act," building on the CLARITY Act passed by the House in July, and a committee vote is expected by the end of September.
These three roundtable discussions indicate that Republican lawmakers continue to focus on legislation related to the cryptocurrency and blockchain industry after the month-long recess ending in September.
The BITCOIN Act is expected to codify an executive order signed by U.S. President Donald Trump in March, creating a legal pathway for the government to hold up to 1 million BTC in the national reserve.
While the market structure bill is still under discussion in the Senate, it is expected to clarify the role of U.S. financial institutions in overseeing and enforcing cryptocurrency-related regulations.
Related: U.S. House to consider a retrospective ban on central bank digital currencies (CBDCs) in the market structure bill
Original article: “Crypto Executives Meet with U.S. Lawmakers to Discuss Bitcoin (BTC) Reserves and Market Structure Legislation”
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