𝐁𝐢𝐭𝐜𝐨𝐢𝐧 𝐜𝐚𝐧 𝐛𝐞 𝐚 𝐥𝐢𝐟𝐞𝐛𝐮𝐨𝐲, 𝐬𝐚𝐯𝐢𝐧𝐠 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬 𝐟𝐫𝐨𝐦 𝐭𝐡𝐞 𝐭𝐢𝐜𝐤𝐢𝐧𝐠 𝐭𝐢𝐦𝐞 𝐛𝐨𝐦𝐛 𝐨𝐟 𝐩𝐮𝐛𝐥𝐢𝐜 𝐝𝐞𝐛𝐭
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At the Bitcoin 2024 Conference in Nashville, Senator Cynthia Lummis of Wyoming officially introduced a proposed bill to establish a strategic Bitcoin reserve fund. Here are the key points of the proposed legislation: Centralized Network for Bitcoin Storage: The U.S. Department of the Treasury will operate a centralized network for storing Bitcoin. Annual Purchase Program: The program aims to purchase 200,000 BTC annually over a 5-year period, accumulating approximately 5% of the total Bitcoin supply (around 1 million BTC). These holdings will be HODLed for at least 20 years. Funding from Existing Reserves: The Federal Reserve and the Treasury will use existing funds to finance the BTC purchase program. Quarterly Audited Reports: Third-party auditors will provide quarterly reports on the total Bitcoin assets held. Individual Ownership Protection: The legislation confirms the protection of individual ownership rights and self-management of BTC
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𝐑𝐮𝐬𝐬𝐢𝐚 𝐑𝐚𝐜𝐞𝐬 𝐭𝐨 𝐋𝐞𝐠𝐚𝐥𝐢𝐳𝐞 𝐂𝐫𝐲𝐩𝐭𝐨 𝐚𝐬 𝐒𝐚𝐧𝐜𝐭𝐢𝐨𝐧𝐬 𝐖𝐞𝐢𝐠𝐡 𝐎𝐧 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 Russia is moving to regulate the use of cryptocurrencies, as companies wrestle with increasing difficulties in foreign payments under the threat of US sanctions over the war in Ukraine. 𝐵𝑦 𝐵𝑙𝑜𝑜𝑚𝑏𝑒𝑟𝑔 𝑁𝑒𝑤𝑠 𝐽𝑢𝑙𝑦 30, 2024 𝑎𝑡 14:55 𝐺𝑀𝑇+7
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