US president Donald Trump supports the Bitcoin Act and has a team of White House experts working to launch Landmark Digital Asset law in the coming weeks, according to Wyoming Senator Cynthia Lummis.
Speaking at the Bitcoin 2025 conference in Las Vegas, Nevada, Lummis said he brought the Bitcoin Act In “American and the world’s attention,” added, “President Trump supports the bill.”
In March, Lummis recorded again The Bitcoin Act – Landmark law directing the US government to get 1 million bitcoin (Btc) over five years. The acquisitions will be funded using existing funds within the Federal Reserve System and the Treasury Department.
Number Cointelegraph reportedThe Trump administration reiterated the need to use “neutral budget methods” to get Bitcoin without burdening taxpayers.
At the Bitcoin conference, Lummis said the Trump administration had a team working on “digital asset issues,” including Stablecoins lawMarket structure and the bitcoin strategic reserve.
“They will probably release that next,” he said.
“The Senate Banking Committee has passed the Stablecoin Bill outside the committee,” said Lummis, and added:
“We’re close to being ready to have it on the floor. We worked for countless hours with the party minority to enjoy them, and we should vote for it the week before we go back from this rest.”
Related: Senator Lummis’s new Bitcoin Act
The Genius Act in Stablecoins is “Going,” says White House Crypto Czar
The White House seems to be in line with Senator Lummis.
Last week, Trump’s leading crypto advisor David Sacks, said the genius Stablecoin Bill would “pass” the Senate with Bipartisan support after Cleaning a major vote on the procedure on May 19.
The genius refers to Guide and Establishment of National Innovation for the US Stablecoins ActProbably the most comprehensive federal push to promote a legal framework for dollars pegged stablecoins.
Stablecoins has become one of the well -known use cases for blockchain technology, along with some industry advocates who focus that they help expand the dominance of the US dollar as a global currency reserve.
Collateralized, dollars that have back stablecoins like Tether’s USDT (USDT) and USDC of the Circle (USDC) account for more than 85% of $ 250 billion markets, according to CoinMarketCap.
Related: Former CFTC seat criticizes steady gestures amid calls for urgent regulation clarity
