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As of March 12, the U.S. government controls 195,234 Bitcoin, valued at more than $16 billion, according to a new Nansen report. The government’s crypto portfolio also includes $4.6 million worth of Ethereum ( ETH ), stablecoins such as USDC, and yield-bearing assets DAI and AUSDC_V2. A newly proposed bill, introduced by Rep. Nick Begich, could dramatically increase the government’s holdings. The House Strategic Bitcoin Bill aims to acquire 1 million BTC, implying roughly 5% of Bitcoin’s total supply, over the next five years. If passed, the dollar value of the purchases at today’s market price would be just shy of $110 billion. If the bill passes, the U.S. government’s Bitcoin holdings would surpass the estimated 1.1 million BTC attributed to Bitcoin’s mysterious creator, Satoshi Nakamoto. This would give the government significant influence over market liquidity and price stability, potentially driving up Bitcoin’s value and reshaping market dynamics. However, this level of ownership raises concerns about the centralization of a traditionally decentralized asset. Large-scale acquisitions could make the government a price setter in the Bitcoin market which some argue stands against the original ethos of cryptocurrency.

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House introduces companion bill to Lummis’ Bitcoin $BTC Act Fox Business reporter Eleanor Terrett reported on X that Rep. Nick Begich is introducing a House companion bill to Sen. Cynthia Lummis’ Bitcoin Act, with six Republican cosponsors. Lummis is also reintroducing her Senate version alongside Sen. Jim Justice. It remains to be seen if any Democratic lawmakers will support the bills.

Rep. Mike Collins accepts crypto donations for campaign U.S. Representative Mike Collins (R-GA) now accepts crypto donations for his campaign, including $BTC, $ETH, $LTC, $DOGE, $SOL and $USDT. A crypto investor himself, Collins aims to destigmatize digital assets. He joins…

Two Colombian regulators have proposed another bill that would serve to regulate crypto. The bill consists of 16 provisions, including a VASP licensing system for crypto firms. According to local media outlet El Colombiano , the bill aims to establish a legal framework that would ensure protection for crypto users and encourage more investment in the nation’s budding crypto industry. The bill outlines a total of 16 articles that cover several crypto-related aspects including monitoring, marketing rules, education, crypto tax , as well as anti-money laundering and counter-terrorism financing measures or AML /CFT. In addition, the bill also proposes a virtual asset service providers licensing system which crypto firms who wish to operate in the region would have to apply for. Other countries like Hong Kong , Singapore , Canada , and the UAE use VASP licenses to ensure they will abide by local regulations. Senator Gustavo Moreno and House Representative Julián López proposed the bill to Congress on March 2, after having failed in their attempt last year. Moreno argued that Colombia urgently needs to establish a regulatory framework for crypto exchanges and firms due to virtual asset companies in the country are operating informally which “generates uncertainty and risks for users.” The lack of regulation, Moreno added, does not provide crypto services with the proper security mechanisms to protect its users and prevent the misuse of crypto assets. “Our bill seeks to establish clear rules of the game to generate a reliable and more attractive [crypto] ecosystem for investment with guarantees for this emerging industry ,” said Rep. López. According to the report, around five million Colombian users have been trading cryptocurrency. In 2024 alone, crypto transaction value has reached $6.7 billion in the country. However, the outlet has also noted that many users have also become victims of scams and pyramid schemes, and others take advantage of the unregulated crypto ecosystem to launder money . The Colombian Financial Superintendent, Colombia’s main financial regulator, has been reportedly working on several crypto pilot projects since 2021. However, the projects have yet to produce “concrete regulatory framework.”