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# US Legislators Intend to Propose Legislation Guaranteeing the Permanence of Vital Bitcoin Holdings
US Congressman Byron Donalds is planning to present a legislative proposal to guarantee that President Donald Trump’s directive, which establishes a strategic Bitcoin reserve, cannot be repealed by subsequent presidents.
According to a recent report by Bloomberg, Donalds’ legislative proposal seeks to safeguard executive directives that establish a national strategic Bitcoin (BTC) reserve and a US digital asset reserve from the administrative policies or rulings of future US presidents. Consequently, the legislative proposal aims to “enshrine into law” the executive directive signed on March 7.
The Republican representative from Florida stated: “Democrats have been opposing cryptocurrency for several years. Now is the opportune moment for Congressional Republicans to take resolute action to conclude this conflict.” Donalds is recognized as a proponent of cryptocurrency, as he prepares to campaign for governor of Florida in the approaching election.
To be enacted, the legislative proposal would necessitate 60 votes in the Senate and a majority in the House. In contrast to the preceding Biden administration, the Trump administration is regarded as more favorable to crypto, with the Biden administration facing accusations of attempting to suppress the crypto sector through regulatory bodies such as the Securities and Exchange Commission. Thus far, the majority of crypto-supportive policies have garnered backing from both Democrats and Republicans in Trump’s Congress.
## What are the components of the Bitcoin Reserve Executive Directive?
Trump’s executive directive mandates the establishment of a Bitcoin reserve, in conjunction with a digital asset reserve comprising major tokens like XRP (XRP), SOL (SOL), and ADA (ADA). The reserve would be assembled utilizing BTC possessed by the US federal government, which was acquired from criminal or civil asset forfeiture actions.
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Furthermore, the executive directive also empowers the Treasury and Commerce Departments to formulate a “budget-neutral strategy” to procure additional Bitcoin for reserves.
In this manner, the authorities are able to bypass utilizing funds from taxpayers for acquiring Bitcoin. The executive mandate additionally restricts the transaction of any Bitcoin holdings.
David Sacks, a specialist in AI and digital currencies, approximates that the American administration presently possesses 200,000 Bitcoins. Nevertheless, the precise quantity remains undisclosed, given that this collection of Bitcoins has never undergone a thorough assessment.
