The US House Committee on Financial Services has advanced a bill that could codify a strategic Bitcoin reserve into law. The American Reserve Modernization Act of 2026 (H.R. 8957) passed the committee on Wednesday by a vote of 28-21.
Introduced by US Representative Nicholas Begich on May 21, the legislation aims to establish a Strategic Bitcoin Reserve and a Digital Asset Stockpile within the Department of the Treasury. These reserves would hold Bitcoin and other digital assets acquired by the federal government through criminal or civil forfeiture, mandating a minimum holding period of 20 years for these assets.
The US government is estimated to hold approximately 324,527 Bitcoin, valued at around $24.7 billion at the time of writing, according to Arkham Intelligence. The bill requires federal agencies to provide a comprehensive accounting of all digital assets they hold or control and establishes transparency measures, including quarterly “proof of reserve” reports and third-party audits.
Further provisions in H.R. 8957 direct a study into budget-neutral strategies for expanding the Strategic Bitcoin Reserve. The bill also allows states to store their Bitcoin holdings within the Federal Reserve and affirms private ownership and self-custody rights of Bitcoin, recognizing the control of private keys as fundamental to financial sovereignty, privacy, and personal liberty.
“We cannot allow Bitcoin to be held by the federal government to languish in fragmented and inconsistent custody,” said US Representative Nicholas Begich. “It poses unacceptable cybersecurity risks and fails to give an adequate accounting of what the federal government actually owns.”
Industry figures have reacted positively to the bill’s advancement. Connor Brown, executive director of the Bitcoin Policy Institute, called it a “genuinely historic step for Bitcoin policy.” Strive CEO Matt Cole similarly commented that it is “the single most important crypto legislation that can come out of DC.”
The committee’s approval is a significant step, but the bill must still pass the full House and Senate before it can be sent to the president’s desk. Uncertainties remain regarding its passage through the remaining legislative stages and its eventual enactment.
Why This Matters
This legislative development brings the US closer to formalizing a strategic Bitcoin reserve, potentially impacting how federally held digital assets are managed and secured. The bill’s progression through the House Committee on Financial Services signifies a move towards codifying existing practices and introducing enhanced transparency and accountability measures for digital assets acquired through forfeiture, with a mandated 20-year holding period.
Broader Context
Source materials place the factual news in this context: The legislation would effectively codify Trump’s Bitcoin reserve policy, locking up Bitcoin acquired through civil and criminal forfeiture for 20 years.
