According to Wyoming Senator Cynthia Loomis, President Donald Trump supports the BITCOIN bill, and the White House has a team of experts preparing to roll out landmark digital asset legislation.
At the Bitcoin 2025 conference in Las Vegas, Loomis stated that she is introducing the BITCOIN bill to the 'American people and the world', adding, 'President Trump supports the bill.'
In March this year, Loomis reintroduced the BITCOIN bill, a landmark legislation directing the U.S. government to purchase 1 million bitcoins within five years.
According to Cointelegraph, the Trump administration reiterated the need to purchase Bitcoin in a 'budget-neutral manner that does not increase taxpayer burden.'
At the Bitcoin conference, Loomis stated that the Trump administration's team is exploring 'digital asset issues', including legislation on stablecoins, market structure, and Bitcoin strategic reserves.
The Senate Banking Committee has passed the stablecoin bill, and Loomis added, 'We have had long consultations with the minority party, and we will vote a week before returning from recess.'
White House cryptocurrency advisor: The GENIUS stablecoin bill 'will pass'
The White House seems to be in agreement with Senator Loomis.
Last week, Trump's chief cryptocurrency advisor David Sachs stated that the GENIUS stablecoin bill has bipartisan support in the Senate and will pass after a crucial procedural vote on May 19.
GENIUS refers to the U.S. Stablecoin National Innovation Act, which may be the most comprehensive effort to establish a legal framework for dollar-pegged stablecoins.
