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The Defiant 2025-03-05 17:48:54

Trump's Bitcoin Strategic Reserve Faces Skepticism from Senator Cynthia Lummis and Chairman Tim Scott in Congress

Trump's Bitcoin Strategic Reserve Faces Skepticism from Senator Cynthia Lummis and Chairman Tim Scott in Congress

President Donald Trump's proposal for a U.S. strategic bitcoin reserve has garnered interest among some members of Congress, particularly from pro-Bitcoin Senator Cynthia Lummis. However, Lummis has expressed skepticism regarding the initiative's near-term feasibility, stating that Congress is not yet ready to accept the bill. Despite the proposal gaining traction, Lummis, who introduced the legislation, acknowledges that there is insufficient support for it at this time. Additionally, House Banking Committee Chairman Tim Scott is advocating for delays, citing concerns that the U.S. is not prepared for such a move. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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