U.S. Senator Cynthia Lummis announced legislation to create a strategic bitcoin reserve in Bitcoin Nashville in July. Lummis's bill would use existing funds from the Federal Reserve and Treasury to buy 1 million bitcoin. The same day Lummis unveiled details of her bill, former President Donald Trump outlined his policy of creating a "national bitcoin reserve" and "never sell" about 200,000 bitcoin 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 keep seized bitcoin as a strategic reserve asset. Connor argued that this is a bipartisan concern, arguing that bitcoin could increase the Federal Reserve's reserves due to its appreciation potential and help maintain U.S. financial leadership. He argued that the U.S. should take a leadership role in this new asset class, thus setting the rules of the market. In addition to advocating for bitcoin, Khanna has been working to improve cryptocurrency regulation. He co-sponsored the FIT 21 bill to balance regulation between the CFTC and SEC, which has the support of more than 70 Democrats. His goal is to reshape the party's approach to cryptocurrencies, move away from past hostility, and take a more aggressive stance on decentralization and innovation.