US lawmaker to reintroduce Bitcoin reserve bill with new name

U.S. Representative Nick Begich plans to reintroduce the Bitcoin Strategic Reserve Bill in the coming weeks under a new name, The Block reported. To broaden support among lawmakers, the bill will be renamed the 'American Reserve Modernization Act (ARMA).' Begich explained that the name change is crucial for helping Congress and the public understand the bill's intent, which is to ensure Bitcoin is treated as a reserve asset. While he noted the bill includes some modifications, he did not specify the changes. However, it is expected to contain a provision requiring the long-term holding of Bitcoin.