Pakinomist — The prospect of a US strategic reserve appears to be gaining traction, with a nod from Senator Cynthia Lummis and support from Binance founder Changpeng Zhao, known as CZ.
On Thursday, it was announced that Senator Lummis will chair the Senate Banking Subcommittee on Digital Assets.
Lummis tweeted about her commitment to advancing digital asset legislation. She emphasized the need for Congress to adopt a bipartisan framework that not only promotes innovation in digital assets, but also strengthens the US dollar with a “strategic bitcoin reserve.”
“Digital assets are the future, and if the United States wants to remain a global leader in financial innovation, Congress needs to quickly pass bipartisan legislation that establishes a comprehensive legal framework for digital assets and that strengthens the US dollar with a strategic bitcoin – reserve.” Lummis wrote.
She described her appointment as a historic opportunity to secure the nation’s economic future under President Trump’s administration.
CZ, the founder and former CEO of Binance, added to the buzz with a quote tweet saying, “US Strategic Bitcoin Reserve, largely confirmed. Crypto moving at crypto speed again.”
In announcing Lummis’ new role, Senate Banking Committee Chairman Tim Scott said, “Blockchain technology and cryptocurrency have the potential to democratize the financial world.” he added that “there is no better champion of the industry than my friend Cynthia Lummis,”
“Working with the Trump administration and our colleagues in the House, we will advance a common-sense framework to facilitate innovation here in the United States, not abroad,” Scott added.
If pursued, a U.S. Bitcoin reserve could further validate cryptocurrency’s role in global finance while positioning the U.S. as a leader in the digital asset space.
