Golden Finance reported that U.S. Senator Cynthia Lummis announced legislation to create a strategic Bitcoin reserve at Bitcoin Nashville in July. Lummis' bill would use existing funds from the Federal Reserve and the Treasury Department to purchase 1 million Bitcoins. On the same day that Lummis announced the details of her bill, former President Donald Trump outlined his own policy of establishing a "national Bitcoin reserve" and "never selling" the approximately 200,000 Bitcoins currently owned by the U.S. government. In a recent episode of the Unchained Podcast, Democratic Rep. Ro Khanna emphasized that the U.S. government should continue to use seized Bitcoin as a strategic reserve asset. Khanna believes that this is a bipartisan concern, and he believes that Bitcoin may increase the Federal Reserve's reserves due to its appreciation potential and help maintain the United States' financial leadership. He believes that the United States should take a leading role in this new asset class to set market rules. In addition to advocating for Bitcoin, Khanna has been committed to improving cryptocurrency regulation. He co-sponsored the FIT 21 Act to balance regulation between the CFTC and the SEC, which has received support from more than 70 Democrats. His goal is to reshape the party’s attitude toward cryptocurrencies, moving away from past hostility toward a more positive stance on decentralization and innovation.