House Committee Advances US Bitcoin Reserve Bill on Party-Line Split

The U.S. House Committee on Financial Services moved forward legislation to create a federal Bitcoin reserve, passing the measure on a strict party-line vote.

Legislative Action

Committee members approved a substitute version of the bill before the final vote. The substitute text removes references to funding mechanisms involving the Federal Reserve.

Transparency Provisions

The revised language also reduces the scope of transparency requirements originally proposed for the reserve.

Political Dynamics

The vote reflected a clear partisan divide, with members of one party supporting the bill and the opposing party voting against it.