Senator Cynthia Lummis Announces Plan to Reintroduce Bitcoin Bill

# Senator Cynthia Lummis to Reintroduce Bitcoin Act *By Staff Correspondent in New York* Senator Cynthia Lummis, a Republican from Wyoming, announced her plans to reintroduce the Bitcoin Act (BITCOIN Act). According to reports on the 11th (local time), Lummis made the official announcement during a Bitcoin conference hosted by the Bitcoin Policy Institute. The senator emphasized the forthcoming changes in a short video she shared a day earlier related to Bitcoin reserves, stating, “Big changes are coming,” and “This time it’s real.” Lummis initially introduced the BITCOIN Act to Congress in July 2024. However, the bill failed to make progress due to a lack of bipartisan support and questions about its feasibility. Consequently, the bill was automatically nullified at the end of the 2023-2024 session. Per U.S. congressional rules, a bill that does not pass must be reintroduced in a new session to undergo scrutiny. Thus, Lummis plans to submit the bill again in the current session to drive congressional discussions. The reintroduction of the bill has garnered increased attention, coinciding with an executive order signed by President Donald Trump regarding a 'Strategic Bitcoin Reserve' (SBR). While President Trump's executive order does not involve the U.S. government purchasing new Bitcoin, it establishes formal policies for managing seized Bitcoin. David Bailey, CEO of Bitcoin Inc., commented, “Trump’s executive order is just the first step,” adding, “Legislation is necessary to establish a strategic Bitcoin reserve effectively.” Bailey further stated, “SBR cannot be achieved through an executive order or legislation alone,” noting, “The executive order sets a political direction, but Congress must prioritize it.” The fate of Lummis’s bill in the current session remains uncertain. However, with the Trump administration’s pro-Bitcoin stance, the likelihood of moving forward with the legislation regarding the Strategic Bitcoin Reserve (SBR) appears to be increasing.