GOP Defections Defeat Bitcoin Reserve Bills
Despite the strong industry momentum, three state-level Bitcoin reserve bills have failed. These failures happened because several Republicans voted against the bill.
Although the cryptocurrency industry has made huge gains through Trump’s presidency, its political influence may be less than expected. The remaining proposed bills will be an important test of intensity.
Will Bitcoin reserves fail throughout the United States?
Over the past few months, several U.S. states have tried to build their own Bitcoin reserves. In the past few months, nearly 30 states have introduced a bill to add BTC to their reserves. Most of these bills aim to use leading cryptocurrencies as hedges inflation.
The industry is very optimistic because of some successful suggestions Will trigger billions of dollars in new acquisitions. If approved, Bitcoin reserves are possible Needs for hiking BTC In a market where supply has shrunk rapidly.
However, the movement suffered setbacks today. Montana lawmakers rejected the proposal 41-59they are not the only opponents.
Currently, Montana’s House of Representatives has 58 Republicans and 42 Democrats, meaning a large number of Republicans vote against the bill. North Dakota is a red state, I saw a higher Number of defects.
Wyoming Senator Cynthia Lummis is Leading National Pro Joint Advocatebut her own colleagues Rejected Bitcoin reserves are convenient.
In other words, President Trump’s party could be a major obstacle to state-level Bitcoin reserves. During the campaign, Trump strongly advocated the national Bitcoin reserve program. Last month, he signed an executive order from the Cryptocurrency Working Group to assess National digital asset inventory.
However, it seems that several Republican members do not fully grasp his vision. If Republicans continue to show this level of opposition at the state level, the program may be completely doomed.
Other state-level Bitcoin reserves may face similar pressure. Although Utah recently made its own suggestionsother possible states are in trouble.
Recently, the new governor of Texas is called Keep the “top priority” of 2025but voice criticism has been growing. Some Republicans think the plan is too risky for taxpayers’ funds, and the media is angry:
“Texas Republicans are quickly approving SB 21. The bill would allow (they) to hire a cryptocurrency company to manage strategic reserves, another giveaway to an industry that can only make more than just waste electricity . SB 21 Needs to Die. claim.
Ultimately, these developments may be a major setback, but They did not prove that Bitcoin reserves are doomed to fail. This industry Strongly support this regulation And be prepared to leave a large amount of political capital behind.
The upcoming battle will be a real test case of the industry’s actual control over the Republican Party and the entire U.S. legislature.
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