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U.S. Strategic Bitcoin Reserve to Be Funded Partly by Revaluing Fed's Gold, Draft Bill Shows
U.S. Senator Cynthia Lummis's plan for a new Strategic Bitcoin Reserve would finance purchases of the cryptocurrency partly by revaluing gold certificates held by the Federal Reserve System, according to a draft of the legislation obtained by CoinDesk. Lummis, a Wyoming Republican who is known for her Bitcoin-friendly policy stance, announced her intention to propose the reserve on Saturday at the Bitcoin Nashville conference. She came onstage just minutes after former U.S. President Donald Trump, the Republican nominee in this year's presidential race, delivered a speech on blockchain policy before the cheering room, filled to its 8,500-person capacity. Read More: The U.S. Government May Begin Hoarding Bitcoin, But How and Why? Trump, during this speech, endorsed using the U.S. government's existing bitcoin holdings – primarily obtained through forfeitures and seizures related to criminal cases – to form the "core" of a new "strategic national bitcoin stockpile."
Making Bitcoin a Strategic Reserve Asset Contradicts 'Freedom From Government' Narrative, Says WSJ
Donald Trump’s plan to make bitcoin a so-called strategic reserve asset doesn’t make much sense, the editorial board of the Wall Street Journal wrote in an op-ed Tuesday.
Russia Legalizes Crypto Mining and Brings an Experimental Regime
Russia's lower house of the Federal Assembly, known as the State Duma, has passed two crypto-related laws on Tuesday, a Russia based policy expert told CoinDesk and Ria Novosti, Russia's state-owned domestic news agency reported.
WazirX Co-Founder Nischal Shetty Says All Options Are on the Table for Fund Recovery
Indian cryptocurrency exchange WazirX’s co-founder Nischal Shetty told CoinDesk that outreach efforts to different exchanges "are going to be crucial," as it remains open to "everything that is possible to help solve this situation."
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