The Bitcoin Policy Institute (BPI) released a 21-page argumentation model connected May 21 to presumption the US arsenic a planetary person successful the Bitcoin (BTC) ecosystem.
BPI caput of argumentation Zack Shapiro, the writer of the framework, called it his “Bitcoin Policy Manifesto.” The papers outlines a broad legislative and regulatory attack that touches connected Bitcoin arsenic a fiscal asset, bundle protocol, and mining infrastructure.
The model proposes a three-pronged approach: integrating Bitcoin into the US economical and geopolitical strategy, tailoring ineligible clarity for exertion developers and businesses, and redefining Bitcoin mining wrong vigor and infrastructure policy.
Shapiro stated that the insubstantial is simply a concise yet implicit usher for policymakers seeking to recognize the superior legal, regulatory, and geopolitical dimensions of Bitcoin wrong fractional an hr of reading.
Strategic reserve and superior markets integration
One of the framework’s cardinal recommendations is the constitution of a US Strategic Bitcoin Reserve (SBR), modeled connected humanities stockpiling of golden oregon oil.
BPI argued that Bitcoin’s scarcity, neutrality, and portability marque it a beardown hedge against ostentation and geopolitical instability, traits required of reserve assets.
The model besides highlighted however the US could contented “BitBonds,” oregon Bitcoin-enhanced Treasury bonds, that dedicate a information of proceeds to bitcoin purchases. BPI modeling suggests this mechanics could little national involvement costs portion strengthening dollar-based assets.
The study endorsed argumentation updates to foster US-based Bitcoin superior markets to complement the reserve proposal. These see finalizing fair-value accounting standards for bitcoin holdings, approving in-kind spot Bitcoin ETFs, and exempting low-value transactions from superior gains tax.
Legal favoritism for non-custodial tools
BPI emphasizes a wide favoritism betwixt custodial and non-custodial exertion successful the ineligible and innovation domain.
The study calls for the transition of safe-harbor legislation, specified arsenic the Blockchain Regulatory Certainty Act, to forestall developers of non-custodial bundle from being regulated arsenic wealth transmitters.
This includes Lightning routing nodes, Chaumian mints, and DeFi protocols. Additionally, the documents urged the Department of Justice to driblet existent prosecutions against developers of privacy-focused Bitcoin tools.
The study besides projected a unified national wealth transmission licence to regenerate state-by-state registration requirements and advocates for a sandbox authorities allowing emerging custodial businesses to run nether scaled compliance frameworks.
Energy argumentation and mining incentives
On the vigor front, BPI recommends treating Bitcoin mining arsenic a strategical instrumentality for grid stableness and cleanable vigor integration.
The study encouraged policymakers to admit Bitcoin mining arsenic a demand-response plus and incentivize methane mitigation done flared state on-site mining.
It besides recommended a technology-neutral stance successful national vigor argumentation and proposes co-locating mining operations with AI and information halfway infrastructure to optimize load distribution.
Bitcoin mining is portrayed arsenic a complementary load that tin stabilize vigor grids, sorb surplus renewable generation, and warrant upgrades to transmission capacity.
BPI positioned mining to thrust innovation and concern successful US vigor markets without preferential attraction oregon targeted restrictions.
The station BPI releases argumentation manifesto urging US to pb successful Bitcoin infrastructure appeared archetypal connected CryptoSlate.