U.S. House Representative Plans to Introduce 'BTC Strategic Reserve Bill' Under New Name

U.S. Representative Nick Begich reportedly plans to reintroduce the Bitcoin Strategic Reserve Bill under a new name in the coming weeks. According to The Block, he intends to rename the bill the "Armed Forces Modernization Act (ARMA)" to garner support from lawmakers. "The reason for changing the name is that it is very important for Congress and the public to understand what we are actually trying to do," Nick Begich explained. "We intend to ensure that Bitcoin receives the treatment it deserves as a reserve asset." He stated that there are several amendments to the bill but did not disclose specific details. However, it is known that the bill will include a provision requiring the long-term holding of Bitcoin.