Senator Cynthia Lummis Cites Legislative Delays in Strategic Bitcoin Reserve Fundraising
Senator Cynthia Lummis announces that the U.S. could begin acquiring funds for the Strategic Bitcoin Reserve at any time, as legislative hurdles are overcome.
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Fact Check
The statement is strongly supported by the evidence. Source 10 (Live Bitcoin News) explicitly states that Senator Lummis cited 'legislative delays' and proposed starting the reserve with existing government assets to circumvent these delays. This is corroborated by other sources that create a timeline showing the legislative process has been lengthy, including a need to reintroduce the bill (Source 6) and the exploration of alternative 'budget-neutral strategies' (Source 7), both of which indicate the primary legislative path is facing hurdles.
- Reference: 1
Summary
U.S. Senator Cynthia Lummis confirmed that the U.S. government is poised to begin acquiring funds for the Strategic Bitcoin Reserve. This follows her proposal of the initiative last year, despite previous delays due to slow legislative processes. Lummis stated that the government could start the acquisition 'anytime.'
Terms & Concepts
- Strategic Bitcoin Reserve: A proposed government-held reserve of Bitcoin intended for strategic economic or financial purposes.
- Legislative Process: The formal steps and procedures through which laws are proposed, reviewed, and enacted by a governing body.