PANews reported on March 14 that according to Bloomberg, U.S. Congressman Byron Donalds plans to submit a draft bill to formally legislate the executive order recently signed by the Trump administration, which aims to establish a strategic Bitcoin reserve and a U.S. digital asset reserve. If the bill is approved, it will ensure that the policy will not be revoked by future presidential executive orders.

Trump's executive order requires the U.S. Treasury to establish a Bitcoin reserve and hold about 200,000 Bitcoins, while authorizing the Treasury and Commerce Departments to develop a "budget neutral" strategy to further increase Bitcoin reserves. In addition, the order also establishes a digital asset reserve at the Treasury Department to store existing and future digital assets obtained through criminal or civil asset confiscations, and explicitly prohibits the sale of Bitcoin in the reserve.