US Congressman Byron Donalds is set to introduce a new bill on March 14 to codify US President Donald Trump's executive order for a Strategic Bitcoin Reserve (SBR).
The bill aims to formalize Trump's plan and protect the strategic reserve from potential industry-adverse administrations in the future.
The reserve and stockpile would be funded by crypto seized from government criminal and civil forfeiture proceedings, including the US' 200,000 BTC holdings and other digital assets owned by the Treasury Department.
However, there are opposing views from Congress members, with Democratic Representative Gerry Connolly expressing concerns over the reserve plan.