Why Bitcoin Reserve Bills Fail: VeChain Executive Weighs In | Airdrop Alert Pro

In an interview with Johnny Garcia, managing director of institutional growth and capital markets Vechain The foundation resolved to reject Bitcoin (BTC) reserves. He stressed that the core issues go beyond legislative boycotts, which is a need for greater education to the public and policy makers.

His remarks emerged because five states have dismissed the legislation. As of now, only 18 states are still considering the possibility of integrating digital assets like Bitcoin into their financial systems.

Vechain executive weighs Bitcoin reserve bill rejects

Garcia pointed out that the establishment of a federal government or State Bitcoin Reserve Innovation can be driven by modernizing investment frameworks and enhancing operational capabilities.

“This will make us very familiar with all the benefits of cryptocurrencies: transparency, immediate resolution, managing opponent risks – to name a few.”

However, he admitted This suspicion persists. Garcia noted that many people still don’t believe in the utility and economic significance of Bitcoin reserves. When the debate becomes more complicated Consider the source of funds.

“Not every citizen in a particular state will agree to their tax financing cryptocurrency purchases – something they can do on their own,” he commented.

Therefore, Garcia stressed that states will need to focus on the purpose and objectives of educating their citizens Bitcoin is in their reserve combination. He stressed that while regulatory frameworks are crucial, success depends on proving that real-world value exceeds speculation.

“The blockchain/DEFI industry needs to be strengthened and shows that it can provide reliable solutions that go beyond investment and provide real-world value,” Garcia said.

He added that in order to truly change the minds of political and government stakeholders, especially those who instinctively doubt cryptocurrencies, solutions must go beyond financial considerations. The executive stressed that blockchain technology needs to demonstrate its ability to solve a wider range of problems.

Garcia highlighted Vechain as a classic example of how blockchain can solve new and ongoing problems. He drew attention to Vechain’s use of blockchain to validate sustainability efforts. Garcia noted that such an application makes it harder for lawmakers to ignore the real-world value of the technology beyond finance.

Rejection of the Cryptocurrency Reserves Act does not represent a unified view on cryptocurrencies

Meanwhile, Garcia warned against seeing rejection at the state level as a general objection to cryptocurrencies.

“I wouldn’t say that this necessarily reflects a deep-rooted opposition to the concept of crypto in the form of reserves, reserves or another alternative investment option,” he shared with Beincrypto.

According to Bitcoin law, a total of 33 Bitcoin reserve bills have been filed in 23 states. However, Montana, Wyoming, North Dakota, Mississippi and Pennsylvania The legislation that would allow states to invest in digital assets, including Bitcoin, was rejected.

Currently, 18 states have 27 active bills. Importantly, Utah, once the forefront of the Bitcoin Reserves race, recently technically withdrawn. The Utah bill is still progressing, but no “Bitcoin Reserve” clause has been removed.

Garcia’s view on legislative resistance is even more subtle. According to him, although several states have voted against the reserve bill, the opposition is usually out of small profits.

He encourages the assessment of the specific reasons behind the rejection rather than generalization. Gracia also welcomes the states to take the time to think about the issue carefully.

The momentum at the national level is growing as states adopt their own cryptocurrency approach. Senator Loomis has been reintroduced Bitcoin law. This was not long ago President Trump signs executive order Create a strategic Bitcoin reserve funded by seizure of Bitcoin.

Lummis’s Bitcoin bill was originally launched in July 2024 and failed to withdraw from the Senate from the Senate.

“I am proud to re-propose landmark legislation that will enable President Trump’s bold vision to codify to build the U.S. strategic bitcoin reserves and strengthen the economic base of our nation to achieve future generations. Write On X.

The bill aims to create a strategic U.S. Bitcoin reserve that supports up to 1 million BTC has been acquired for five years. In addition, these holdings will last for at least 20 years.