U.S. Republican Party Proposes "American Mining Act" to Promote Mining Expansion and Strengthen Bitcoin Reserves

Odaily News U.S. Senators Cynthia Lummis and Bill Cassidy have introduced the "Mined in America Act," which aims to promote the development of the crypto mining industry and codify into law the executive order by President Trump to establish a strategic Bitcoin reserve.

The bill plans to strengthen the role of crypto mining in the U.S. economy while solidifying through legislation the previous policy arrangements regarding the strategic Bitcoin reserve. This reserve is primarily composed of Bitcoin obtained by the U.S. Treasury through law enforcement seizures.

The bill also requires the U.S. Department of Commerce to establish a voluntary certification system to regulate mining pools and mining farms. Furthermore, certified mining farms must gradually reduce their reliance on mining equipment produced by companies associated with "foreign adversaries."

The proposers stated that this bill is one of the important measures to advance the United States as a global digital asset hub and is intended to enhance the nation's strategic position in the crypto industry chain.