Dennis Porter, co-founder and chairman of the Satoshi Action Fund, said that “14. The state (USA) is now ready to introduce legislation to create a Bitcoin Strategic Reserve.
Will a Bitcoin Strategic Reserve be established in another state?
At the beginning, it is worth emphasizing that this is not a federal (nationwide) reserve, but a state reserve, i.e. belonging to the state.
Porter previously revealed that it is working with 13 different states on Bitcoin Strategic Reserve projects. He also played a key role in several states passing pro-Bitcoin legislation, and now his lobbying efforts are focused on establishing reserves in a dozen states. For now, however, we are still only talking about states and bills that must be voted on and signed by governors.
If the governor signs the bill, the bill becomes law
– Porter explained in a post on X.
Sam added that the legislative system in the US is complicated and projects “may” be “blocked” at any time. So we can have a repeat of the fun of creating BTC ETFs – first, they tried to create them for a long time, all while waiting for the breakthrough that occurred only a year ago. Of course, it is doubtful that the process of creating BTC reserves will take many years, especially with the new White House administration, which is expected to favor cryptocurrencies.
Porter added that reserve-setting procedures in most states will begin this month and could take up to six months to complete.
The advantage of working at the state level is that there are fast and hard deadlines. The bill either sinks or swims very quickly
– he described vividly how state Congresses work.
A breakthrough at the national level
However, the cryptocurrency community is waiting for the creation of a strategic BTC reserve at the federal level, which is to be spearheaded by Donald Trump. On January 20, the Republican will be sworn in as US president. It is possible that he will start fulfilling his election promises quite quickly – especially since a bill establishing a BTC reserve by Cynthia Lummis is submitted to Congress. All it needs is for it to be voted on and sent to Donald Trump’s desk for signature.
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