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Will Donalds’ Bill Pass? If passed, the bill would effectively lock in Trump's pro-cryptocurrency stance beyond his presidency.

House Republicans are planning to push through legislation this week that would largely block President Biden from reversing former President Trump's pro-cryptocurrency policies, according to a report by Benzinga.

The bill, which is expected to be voted on this week, aims to largely ratify Trump's executive order that directed the Treasury Department to begin managing a Bitcoin reserve.

The administration has stated that this reserve will increase in value over time, benefiting the government's financial position without incurring additional taxpayer costs.

The administration is currently using around 200,000 BTC, which it acquired via forfeiture and other legal means over several administrations.

However, Biden's administration has expressed skepticism towards Bitcoin and prefers to focus on developing a U.S. central bank digital currency (CBDC).

If passed, the bill would effectively lock in Trump's pro-cryptocurrency stance beyond his presidency.

Notably, the legislation faces procedural hurdles, requiring 60 votes in the Senate and a majority in the House to pass.

"For years, the Democrats waged war on crypto," Donalds, the Florida Republican said. "Now is the time for Congressional Republicans to decisively end this war."

"We must continue rolling back the Biden administration's tyrannical overreach and unleash the American spirit to innovate and build in this new age of technology and finance," he concluded.