Jack Dorsey’s Payments Company Block has submitted a policy agenda claiming it can unlock the evolution of Bitcoin reserve assets into everyday payment methods in the US. “The Road to Bitcoin as Everyday Money,” Dorsey posted today on X, amplifying detailed blog posts and previous threads by Thomas Templeton, the company’s lead in Bitcoin Hardware and Mining Initiative.
Templeton writes that the block is “built towards a world where Bitcoin is everyday money and a valuable repository,” emphasizing that Congressional actions are now a critical variable. “To realize this vision, we need Congress to modernize the regulatory framework to support it,” he told his followers, linking to the company’s memorandum of understanding policy to unlock Bitcoin as everyday money.
Three changes to earn bitcoin money
In that document, Block revisits the premises before the establishment of Bitcoin, set by Nakamoto AT in 2008. “Peer-to-peer electronic cash system.” The open and permitted design of the network is “about access, not speculation,” and it argues that BTC’s architecture is positioned as a model of “resilience and innovation” in national payment infrastructure. Block says it is investing in the entire stack, including rigs, self-lawyer wallets and zero-integration of square brands, to lower the barriers for “people and small businesses” who want to trade Bitcoin natively.
However, the company argues that federal law has not kept up to technological advances. It urges lawmakers to take three steps that are considered prerequisites for mass market use.
First, the block highlights the urgency of comprehensive market structural reforms now embodied by the Digital Asset Market Clarity (Clearity) Act. Requoting Block’s own brief, the company claims that Bitcoin’s “decentralized, unauthorized, open-source architecture is one of the most transparent and democratically governed money ever created.
Second, the company seeks statutory protections for “participants who do not detain customer funds,” including software developers, node operators, miners and wallet providers. The language reflects the bipartisan blockchain regulatory certainty law, which encodes the principle that it applies only to intermediaries who manage customer funds.
Third, we liken Bitcoin’s tax system to foreign currency tax processing and press the block to minimize exemptions from small retail transactions. Under current rules, buying coffee at highly rated BTC triggers taxable events and believes friction blocks “inhibit daily use.” The company said Square plans to enable direct BTC payments “late this year,” and that tax safety ports are “essential to enable Bitcoin to be adopted more widely as a medium of exchange.”
Throughout the policy paper, Block distinguishes Bitcoin from the broader digital asset sector by highlighting a fixed supply of 21 million coins, its “soluble” and a fixed supply of over a decade of operational history. “Whether sending value across borders or trading seamlessly with small businesses, Bitcoin has the real world potential to modernize payments and address everyday financial needs,” the memo says.
While Dorsey’s personal defense of Bitcoin is well known, he once called the “native currency of the internet,” Bullock’s new roadmap still represents the most detailed policy blueprint of all time. Since its release, legislative chess boards have shifted. The Digital Asset Market Clarity Act passed the House of Representatives on July 17th between 294 and 134, and is now awaiting action in the Senate calendar.
In contrast, the narrower blockchain regulation certainty law has been reintroduced, remains bottled at the House Financial Services Committee, and Senate peers have not yet been submitted. Capitol Hill Watcher therefore focuses on whether Senate Bank Chair Tim Scott will explicitly grant markup following the July 9 hearing of the Committee on Digital Asset Market Structure, and whether tax writers will be exempt from the next must-pass vehicle.
Without these reforms, the US risks concessions to jurisdictions where Bitcoin payments are already operating on a retail scale. The message to the company’s lawmakers is unclear as Square’s merchant network prepares to accept Bitcoin along with credit cards and tap-to-pay. “It’s time for Congress to pass the comprehensive federal licensing framework and unlock the tax barriers to allow small BTC transactions to become a viable medium for exchange.”
At the time of pressing, BTC traded for $117,152.
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