CONGRESS FOR VOTERS

RepublicanAmendment · S.Amdt. 3508· Senate(119-SAMDT-3508)

S.Amdt. 3508

Rep. Lummis
Age: 72 years
Wyoming
Introduced
8/1/2025
Sponsored by
Cynthia Lummis
Cosponsors
Republican - 1Democrat - 0
Changes bill
119-S-2296 — National Defense Authorization Act for Fiscal Year 2026
  1. Introduced
  2. Pending Consideration

What this amendment would do

SA 3508, submitted by Ms. Lummis and Mr. Tuberville, aims to add a new section to bill S. 2296. The purpose of this addition is to require the Secretary of Defense to create a report regarding the strategic implications of Bitcoin for the national and economic security of the United States.

The amendment is based on the findings that Bitcoin is becoming a significant monetary asset and that both allied and adversarial nation-states are increasing their efforts to accumulate it. This creates a need for a Department of Defense assessment to identify risks and opportunities to preserve security in the digital asset era.

Key Changes and Requirements

The amendment adds the following requirements:

  • Report Deadline: The Secretary of Defense must submit the report to the Senate and House Committees on Armed Services within 120 days after the Act is enacted.

  • Report Scope: The report must include:

    • Analysis of Bitcoin accumulation by nation-states and affiliated entities.
    • A comparison of United States Government Bitcoin holdings against other nations' holdings and nation-state gold holdings.
    • An evaluation of the strategic advantages and disadvantages of the U.S. holding more Bitcoin than any other nation.
    • An examination of competitive dynamics as nations use Bitcoin as a sovereign reserve asset.
    • A review of the legal and policy rules that govern how the Department of Defense or its contractors use Bitcoin.
    • Recommendations for using Bitcoin across various instruments of national power.

  • Coordination: The Secretary must coordinate through the Office of the Secretary of Defense and include input from combatant commands, the Under Secretary of Defense for Intelligence and Security, and organizations focused on financial warfare or economic security.

  • Consultation and Data: The Secretary may consult with the Chair of the Council of Economic Advisers, the Executive Director of the President's Working Group on Digital Asset Markets, and other interagency partners. Data may also be solicited from industry, academia, and nongovernmental organizations.

  • Format: The report must be unclassified, though it can include a classified annex for sensitive data or operational plans.