Democrats opposed the plan to increase the government’s own Bitcoin’s possession by creating a strategic protection area for President Donald Trump.
Congressman Gerald E. Connoli, Virginia, urged to stop the Bitcoin protection zone proposed by the US Treasury.
Lawmaker: Stop BTC Reserve
Connoli argued that the Trump and his allies will enrich the Trump and his allies, urging the Finance Minister Scott Bessent to “stop all attempts” to establish a strategic Bitcoin protection zone.
“The creation of a strategic cryptocurrency protection area is ready to abundant the president and his closest allies, sacrificing US taxpayers.” “We urge you to stop all plans to create a strategic cryptocurrency protection area.”
Virginia’s lawmakers criticized the cryptocurrency proposal because Trump and his donors would benefit from it.
The Connolly spokesman calls for the US Treasury to abandon a plan for strategic password protection areas.
Gerry Connolly, Virginia, sent a letter to the US Treasury Secretary on March 13. According to the media …
-The global (@coinnessGl) promise March 14, 2025
Main password holder
Connoli quoted Trump, his family and his close allies, the owner of cryptocurrency, and the president’s family owns the Trump organization and “maintains important ownership in world free finance.”
The National Assembly, along with the president who claims to be a global free finance as the “future of finance,” explained, “It is a cryptocurrency venture that is eager to be a kind of digital asset bank that will be recommended to borrow, lend, and invest in digital coins.
He added that his son, Eric Trump and Donald Trump Jr., advocated some cryptocurrency, pointing out the connection between the Trump family and the password.
Democrats noted that the US president introduced a new meme coin called Trump in January.
He pointed out that the encryption strategy protection area “there is no noticeable benefit to the American people.”
A sound fiscal policy?
Connoli insisted that the Bitcoin Protection Zone would be “unclear fiscal policy,” because the Bitcoin protection zone would be done through social media, adding that “the taxpayer dollar will be wasted on the plan that the Federal Reserve Private Officer described as a” stupid idea. “
“The United States has historically prepared a specific product of strategic value, such as oil, especially in the period of economic crisis. But there is no strategic need to invest in volatility and speculative cryptocurrency market, ”the National Assembly said.
He explained Bitcoin Reserve that “very speculative taxpayer support hedge.” When encryption collides, the state said, “The government will deploy this fund to build this fund.”
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