WASHINGTON — Senators Bill Cassidy (R-LA) and Cynthia Lummis (R-WY) introduced the ‘Mined in America’ bill on Wednesday, seeking federal support for Bitcoin miners and aligning with former President Donald Trump’s proposal for a national Bitcoin reserve. The legislation argues that domestic mining is critical for energy independence and national security.
The bill comes amid growing political debate over cryptocurrency regulation. Proponents claim U.S. Bitcoin mining could stabilize energy grids by utilizing excess power, while critics warn of environmental costs and market distortions. ‘This is about securing America’s financial future,’ a Senate aide familiar with the bill told reporters.
Analysts note the proposal could face hurdles in Congress, where Democrats have pushed for stricter crypto oversight. However, with Trump making Bitcoin a campaign issue, the bill may gain traction if Republicans win the White House in November.