On March 31, U.S. Senators Cynthia Lummis and Bill Cassidy introduced the 'Mined in America Act,' aimed at promoting the development of the cryptocurrency mining industry and codifying former President Trump's executive order establishing a strategic Bitcoin reserve into law. The bill plans to strengthen the role of cryptocurrency mining in the U.S. economy while solidifying previous policy arrangements regarding the strategic Bitcoin reserve through legislation. This reserve is primarily composed of Bitcoins seized by the U.S. Treasury through law enforcement actions. The bill also requires the U.S. Department of Commerce to establish a voluntary certification system to regulate mining pools and facilities. Additionally, certified mining facilities must gradually reduce their reliance on mining equipment produced by companies associated with 'foreign adversaries.' Proponents of the bill state that it is an important step towards making the U.S. a global center for digital assets and aims to enhance the country's strategic position within the cryptocurrency supply chain.
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