US Senator Lummis: Trump Supports Bill to Purchase 1 Million BTC

PANews reported on May 28, according to Cointelegraph, that U.S. Senator Cynthia Lummis from Wyoming revealed at the "Bitcoin 2025" conference that President Trump supports the "BITCOIN Act," which requires the U.S. government to purchase 1 million bitcoins within five years, with funds coming from existing reserves of the Federal Reserve and the Treasury Department. The White House has formed an expert team to advance digital asset legislation, including stablecoins, market structure, and Bitcoin strategic reserves, which are expected to be introduced in this order.

Lummis stated that the Senate Banking Committee has passed the stablecoin bill, and after consultation with the minority party, it is expected to be put to a full vote within a week after reconvening. Trump's chief crypto advisor, David Sacks, previously mentioned that the "GENIUS Stablecoin Act" is expected to gain bipartisan support for final passage after passing a procedural vote on May 19 with a 66:32 vote.