US House Committee Advances Bill to Formalize Federal Bitcoin Reserve

U.S. lawmakers moved closer to codifying a federal Bitcoin reserve after the House Committee on Financial Services approved the American Reserve Modernization Act of 2026 (H.R. 8957) by a 28‑21 vote.

Key Provisions of the Bill

• Creates a Strategic Bitcoin Reserve and a Digital Asset Stockpile within the Treasury for Bitcoin and other digital assets obtained through civil or criminal forfeiture.
• Mandates a minimum 20‑year holding period for the seized Bitcoin.
• Requires all federal agencies to submit a full accounting of digital assets they hold or control.
• Institutes quarterly “proof of reserve” reports and third‑party audits to ensure transparency.
• Orders a study of budget‑neutral methods for expanding the reserve and permits states to store Bitcoin at the Federal Reserve.
• Affirms private ownership and self‑custody rights, emphasizing control of private keys as essential to financial sovereignty.

Estimated Government Holdings

Arkham Intelligence estimates the U.S. government holds roughly 324,527 Bitcoin, valued at about $24.7 billion at the time of reporting.

Reactions

Representative Nicholas Begich, the bill’s sponsor, warned that fragmented custody poses cybersecurity risks. Bitcoin Policy Institute executive director Connor Brown called the measure a “genuinely historic step for Bitcoin policy,” while Strive CEO Matt Cole described it as potentially the most important crypto legislation from Washington.

Next Steps

The bill now faces approval by the full House and the Senate before it can be signed into law by the president.