Las Vegas, NV – Former President Donald Trump supports the BITCOIN Act and has a team of experts in the White House working to roll out major digital asset legislation in the coming weeks, according to Wyoming Senator Cynthia Lummis.
Speaking at the Bitcoin 2025 Conference in Las Vegas, Lummis announced she is bringing the BITCOIN Act to the “attention of the American people and the world,” confirming that “President Trump supports the bill.”
What Is the BITCOIN Act?
First introduced in March, the BITCOIN Act is a groundbreaking proposal that would require the U.S. government to acquire 1 million Bitcoin (BTC) over five years. The purchases would be funded using existing resources within the Federal Reserve and the Treasury Department, ensuring no additional burden on taxpayers.
Lummis emphasized that the Trump administration is focused on “budget-neutral” methods to accumulate Bitcoin, aligning with previous reports on the administration’s strategy.
White House Crypto Legislation Roadmap
At the conference, Lummis revealed that the Trump administration has a dedicated team working on three key areas of crypto policy:
-
Stablecoin Regulation
-
Market Structure Reform
-
The Bitcoin Strategic Reserve
“They will probably roll out in that order,” she said.
Stablecoin Bill Nearing Senate Vote
Lummis confirmed that the Senate Banking Committee has already advanced a stablecoin bill, and a full Senate vote could happen as early as next week.
“We’ve worked tirelessly with the minority party to address their concerns, and we’re close to bringing it to the floor,” she stated.
White House Confirms: GENIUS Stablecoin Bill Will Pass
The Trump administration appears aligned with Lummis’ efforts. Last week, David Sacks, Trump’s top crypto advisor, declared that the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act) “is going to pass” with bipartisan support.
On May 19, the Senate voted 66-32 to advance debate on the bill, signaling strong momentum for the most comprehensive federal stablecoin framework to date.
Why Stablecoins Matter
Stablecoins like Tether’s USDT and Circle’s USDC dominate the crypto market, making up over 85% of the $250 billion stablecoin sector. Proponents argue that well-regulated dollar-pegged stablecoins could strengthen the U.S. dollar’s global dominance.
With Trump’s backing, the BITCOIN Act and related crypto legislation could soon reshape America’s financial future.