House Financial Services Committee Advances Bitcoin Reserve Bill

The U.S. House Financial Services Committee voted 28‑21 on September 16 to report the amended H.R. 8957, the American Reserve Modernization Act of 2026, which would create a statutory Strategic Bitcoin Reserve and a separate Digital Asset Stockpile within the Treasury Department.

Key Provisions

• Bitcoin deposited in the reserve must remain there for a minimum of 20 years; it cannot be sold, swapped, auctioned, encumbered, or otherwise disposed of during that period.
• Two years before the holding period ends, Treasury must advise Congress on whether to continue holding the assets or allow a controlled release.
• After the 20‑year term, Treasury may recommend selling up to 10% of the reserve in any two‑year window, considering deficit impact, market effects, and the asset’s long‑term viability.
• Annual proof‑of‑reserve reports, verified by an independent cryptographic auditor, will replace the original quarterly reporting schedule.
• Within 60 days of enactment and annually thereafter, federal agency heads must provide Treasury with a full accounting of any Bitcoin or digital assets they hold, seize, or control.
• The bill directs Treasury and the Commerce Department to conduct a 180‑day, budget‑neutral study of potential Bitcoin acquisitions, explicitly prohibiting new taxes, borrowing, or deficit spending.
• A voluntary program will allow states to store their own Bitcoin in segregated Treasury accounts while retaining legal title.

Legislative Process

The substitute amendment, introduced by Rep. Bryan Steil (WI), was adopted by voice vote before the committee recorded a 28‑21 vote (record FC‑317) to report the bill favorably. The measure now awaits consideration by the full House, the Senate, and the President’s signature before becoming law.

Background

The proposal builds on a 2025 executive order that created a Strategic Bitcoin Reserve using finally forfeited Bitcoin. Unlike an executive order, the statutory framework would require congressional action to amend or repeal.