Charles Schwab Calls Bitcoin Reserve Bill Passage a Key First Step Toward Legalization

American financial giant Charles Schwab has stated that the passage of the U.S. Strategic Bitcoin Reserve bill through the House Financial Services Committee could be "an important first step" toward legalization, according to Bitcoin Magazine. Earlier this week, the House Financial Services Committee voted 28-21 in favor of the U.S. Reserve Modernization Act (H.R. 8957), which aims to codify bitcoin held by the federal government as a strategic reserve managed by the Treasury Department. The bill must still pass through the full House, the Senate, and receive presidential signature before becoming law.