Rep. Nick Begich introduced plans to reintroduce laws establishing a strategic bitcoin reserve in the US throughout the subsequent few weeks, talking on the Bitcoin2026 convention in Las Vegas.
A brand new identify, identical mission
The invoice, beforehand often known as the BITCOIN Act, can be rebranded because the American Reserves Modernization Act (ARMA) following discussions with the Home Monetary Companies Committee aimed toward broadening help amongst lawmakers.
Begich defined the reasoning behind the rename:
“Why the renaming — as a result of it’s so necessary for individuals each in Congress and throughout the nation to grasp what we’re truly making an attempt to do. We’re making an attempt to be sure that bitcoin is handled just like the reserve asset that it’s.”
Constructing on Trump’s government order
Final yr, Begich reintroduced the BITCOIN Act alongside Sen. Cynthia Lummis.
If handed, ARMA would set up bitcoin as a strategic reserve asset, constructing upon President Trump’s government order to create everlasting bitcoin holdings just like the nation’s gold reserves.
The unique invoice included language for buying a million bitcoin over 5 years utilizing budget-neutral methods.
Begich mentioned the up to date invoice would require bitcoin to be held for an extended time frame, including:
“It permits us to exit into these authorities companies, determine the place bitcoin is at the moment being held and custody that bitcoin in a accountable method in line with its reserve standing.”
Locking in good points earlier than the subsequent administration
Begich framed the urgency round political uncertainty, warning that future administrations might not share the identical stance on bitcoin.
He mentioned:
“We don’t know what the subsequent administration goes to be like. What’s their stance going to be on bitcoin and different digital belongings? You wish to take the chance when you will have it to lock within the good points that you just skilled beneath one administration or one other, and that’s the place Congress can actually act.”
Places of work for Begich and Lummis didn’t instantly reply to a request for remark about potential modifications to the invoice.