PANews reported on May 28 that according to Cointelegraph, Wyoming Senator Cynthia Lummis revealed at the "Bitcoin 2025" conference that President Trump supports the BITCOIN Act, which requires the U.S. government to purchase 1 million Bit coins within five years, with funds coming from existing reserves of the Federal Reserve and Treasury. The White House has assembled an expert team to advance digital asset legislation, including stablecoins, market structure, and Bit coin strategic reserves, expected to be introduced in this order.
Lummis stated that the Senate Banking Committee has passed the stablecoin bill and is expected to hold a full vote within a week after consulting with the minority party. Trump's chief crypto advisor David Sacks previously said that the GENIUS Stablecoin Act passed a procedural vote 66:32 on May 19 and is expected to receive bipartisan support for final passage.
