Trump supports the BITCOIN Act, Senator Lummis says
Summary
US President Donald Trump supports the BITCOIN Act, which aims for the US government to acquire 1 million Bitcoin over five years, financed through existing Federal Reserve and Treasury funds. Senator Cynthia Lummis announced this at the Bitcoin 2025 conference, emphasizing the administration's focus on digital asset legislation. The Senate Banking Committee has advanced a stablecoin bill, with a vote expected soon. The GENIUS Act, aimed at establishing a legal framework for stablecoins, is anticipated to pass with bipartisan support. Stablecoins, particularly collateralized ones like Tether's USDt and Circle's USDC, dominate the market, comprising over 85% of the $250 billion total.
