Bitcoin Recognized As 'Store Of Value' In Landmark U.S. Legislation

According to Odaily, a significant development in cryptocurrency regulation has emerged as the U.S. House of Representatives passed a landmark Bitcoin bill with a vote of 176-26. This legislation is reshaping the regulatory landscape for digital currencies. Notably, Bitcoin is now officially recognized as a 'store of value' asset, akin to digital gold, while Ethereum (ETH) continues to be classified as a utility token. This clear distinction presents substantial opportunities and implications. Practically, it means that banks can now officially hold Bitcoin as a reserve asset. Additionally, both local and federal governments have established clear guidelines regarding Bitcoin reserves. Institutions, which have long sought regulatory clarity, now have the framework they need to operate confidently. Furthermore, this development may influence global markets to adopt similar regulatory frameworks. This legislation is not merely another regulation but serves as a foundation for Bitcoin's integration into traditional finance. Stakeholders are advised to monitor the implementation details and new institutional policies that are expected to unfold in the coming months.