Responding to concerns that her proposal involved selling off U.S. gold reserves, Lummis pushed back:

“I never proposed selling any of our gold or hard assets,” she said. “I did propose converting our gold certificates to current fair market value and using those to convert to Bitcoin.”

Her clarification comes amid speculation that such a reserve strategy could face resistance from fiscal conservatives wary of touching legacy assets like gold. Instead, Lummis emphasized that her plan aims to modernize how dormant gold certificates are utilized—not to liquidate physical reserves.

Strategic Bitcoin Reserve Bill on Hold for 2025

While Lummis remains committed to exploring Bitcoin as a sovereign reserve asset, she acknowledged that the proposal won’t move forward this year.

“I don’t think we’re going to get to this bill in 2025,” she stated.
The senator explained that lawmakers will instead prioritize market structure legislation, beginning as soon as next week.

Focus Shifts to the Clarity Act and Regulatory Framework

Lummis noted that the immediate goal is to define the regulatory boundaries between the CFTC and SEC—a longstanding source of confusion in U.S. crypto policy.

“We want there to be no interruption between stablecoin legislation and market structure legislation,” she said, referring to the upcoming Clarity Act, which aims to formalize how crypto assets are classified and regulated across agencies.
This shift signals a strategic pivot toward creating foundational rules for digital assets before pursuing more ambitious financial reforms, such as a Bitcoin reserve.

The post Senator Lummis Explains What’s Stopping a U.S. Bitcoin Reserve And When It Could Happen appeared first on Coindoo.

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Filed under: Bitcoin - @ June 3, 2025 4:24 pm