Will Canny is a finance reporter at CoinDesk.n
CoinShares said the bill, if adopted, would give bitcoin a similar reserve status as gold.Donald Trump's administration is likely to provide a more positive environment for cryptocurrencies, and one of the most anticipated developments is the possible adoption of the Bitcoin Act, asset manager CoinShares said in a research blog Wednesday.
President-elect Trump promised to establish a bitcoin reserve in the run-up to the election, and Lummis reiterated the plan on X following CoinShares noted that Trump has been a critic of the Securities and Exchange Commission and Gary Gensler, its chairman, particularly in regard to the agency's approach to crypto. His administration is expected to appoint new SEC leaders, which could lead to a period of more crypto-friendly regulation.
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