US Representative Byron Donalds is moving fast to make sure that President Donald Trump's executive order on Bitcoin stays locked in

Later today, the Florida Republican will introduce a bill to Congress that would prevent any future president from undoing the strategic Bitcoin reserve and crypto stockpile

US Representative Byron Donalds is quickly moving to ensure that President Donald Trump's executive order on Bitcoin is permanently locked in.

Later today, the Florida Republican will introduce a bill to Congress that would prevent any future president from undoing the strategic Bitcoin reserve and crypto stockpile that Trump ordered earlier this month.

If passed, the legislation would stop any future administration from selling off or dismantling the 200,000 Bitcoins in government hands now.

The bill needs 60 votes in the Senate and a majority in the House, but that may not be as impossible as it seems, considering that crypto policies have gained bipartisan interest this term thanks to Trump's return to the Oval Office.

More lawmakers are now open to backing policies to encourage crypto adoption instead of rolling them back, and Donalds is urging Congress to go all-in on these initiatives.

"For years, the Democrats have waged war on crypto. Now is the time for Congressional Republicans to decisively end this war," he said in a statement on Thursday night.

Treasury's Bitcoin reserve could grow, not shrink

Trump's executive order created a Bitcoin reserve inside the Treasury Department, and also placed the U.S. government in control of a large stockpile of crypto assets.

Right now, the federal government has around 200,000 Bitcoins in its possession, and Trump's administration is keen on seeing this number increase as the market expands. The executive order officially banned any attempt to sell off these Bitcoin holdings.

The order also directed the Treasury and Commerce Department to develop "budget-neutral strategies" for accumulating even more Bitcoin without imposing additional costs on taxpayers. The goal is to strengthen America's position in the crypto economy while keeping the reserve intact.

Besides Bitcoin, the order also established a crypto stockpile for other digital assets that are seized through criminal or civil asset forfeiture cases.

This means any crypto assets the government acquires through legal actions will be stored instead of being liquidated. With Trump pushing for broader adoption of crypto, the move ensures the government doesn't just get rid of valuable holdings.

Crypto gains momentum in Washington

The move to codify Trump's executive order is another sign of crypto's growing influence in Washington.

Donalds, who is also running for Florida governor next year, has made Bitcoin a key part of his campaign. He has already promised to turn Florida into a global financial hub with crypto at its center.

The industry has also scored some major wins since January 20. Just last week, top crypto executives met with Trump and senior U.S. officials at the White House to discuss the strategic Bitcoin reserve and the new crypto stockpile.

The industry is also making progress on stablecoin regulation, with a bill that sets clear rules for stablecoin payments moving forward in Congress.

On Thursday, the Senate Banking Committee advanced Senator Bill Hagerty's stablecoin legislation with an 18-6 vote, despite opposition from top Democrats like Senator Elizabeth Warren.

The legislation would regulate privately issued, dollar-based stablecoins, which Trump sees as a way to keep the U.S. dollar on top globally.

However, Warren slammed the bill, calling it a threat to consumers and adding that it begets more bailouts. She also warned that it could concentrate too much power in the hands of tech billionaires like Elon Musk and Mark Zuckerberg, who would be able to launch their own dollar-based tokens.

She cited a Bloomberg report that claimed a Trump-affiliated crypto venture had discussions with Binance about potential business opportunities, including the launch of a new stablecoin. "We should be standing up to this naked corruption," said Warren.

Binance founder Changpeng Zhao, who pleaded guilty to anti-money laundering violations in 2023 has already said that the Bloomberg report, and its predecessor from the WSJ are both incredibly inaccurate.

But, cutting through the noise, Hagerty defended the bill against the criticisms from Democrats.

"This is an innovative, important financial product that has safeguards built in," said Hagerty, adding that stablecoins would be regulated under U.S. law instead of being shifted offshore.

While Countrysaver couldn't immediately verify the accuracy of the report, it does appear that Binance is interested in expanding into new markets. Earlier this year, Binance announced plans to launch a new exchange in Japan.

The move comes as Binance faces increasing scrutiny in its home market of China. Chinese regulators have been known to prefer local companies and institutions to operate within the country's financial markets.

Hagerty's comments came as the Senate Banking Committee prepared to vote on the stablecoin legislation. The bill, which is still in the early stages of the legislative process, faces an uphill battle in the Senate, where Democrats hold a slim majority.

Despite the odds, supporters of the bill, including several House Republicans, are hoping to see it passed into law later this year.

The House Financial Services Committee is also expected to begin work