As per Bitcoin.com, U.S. Rep. Warren Davidson introduced the 'Bitcoin For America Act' on Nov. 20, which would allow taxpayers to settle federal liabilities in bitcoin and channel the inflows into a Strategic Bitcoin Reserve. The bill aims to modernize financial systems by enabling BTC as a payment option, treating transfers as tax payments upon network confirmations, and directing tax receipts into a reserve with a 20-year minimum retention period. Supporters argue that the proposal could strengthen U.S. financial competitiveness by leveraging bitcoin’s fixed supply and global adoption as a hedge against inflation and currency erosion.
US Lawmaker Proposes Bitcoin for America Act to Allow BTC Tax Payments and 20-Year Reserve
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