Trump's Bitcoin Proposal: Practical Challenges Limit Implementation
CryptoNewsTerminal Staff28 Jul, 2024
Trump's Bitcoin Proposal: Practical Challenges Limit Implementation
Making Bitcoin a national strategic asset, as former U.S. President Donald Trump suggested, faces significant practical hurdles. An executive order alone is insufficient; an act of Congress would be necessary. The government holds some Bitcoin but would need to purchase more, potentially incurring tax implications. For Senator Lummis' bill to pass, Republicans would require control of the White House, Senate, and House in the upcoming elections. However, Vice President Kamala Harris' emergence as a potential 2024 Democratic frontrunner adds uncertainty to the political landscape.
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