The U.S. House Financial Services Committee on Sept. 16 approved an amended version of H.R. 8957, the Reserve Modernization Act, by a 28-21 vote. The bill would place a U.S. strategic Bitcoin reserve and a broader digital asset reserve program into federal law. Under the proposal, any Bitcoin lawfully held by the federal government and not designated for another statutory purpose would have to be retained for at least 20 years from the date the law takes effect. During that period, the government would be barred from selling, exchanging, auctioning, pledging, or otherwise disposing of those holdings. The measure has not yet become law and still needs approval from both the House and the Senate, followed by President Donald Trump’s signature. The bill also directs the Treasury Department to establish the reserve within 180 days of enactment and publish an annual proof-of-reserve report covering holdings, transactions, and private key control. In addition, the Treasury and Commerce departments would study lawful, budget-neutral ways to increase Bitcoin holdings, though the provision does not authorize direct purchases.
The U.S. House Financial Services Committee approved an amended version of H.R. 8957, the Reserve Modernization Act, on Sept. 16 by a 28-21 vote. The proposal would write a U.S. strategic Bitcoin reserve and a digital asset reserve program into federal law.
Under the bill, any Bitcoin lawfully held by the federal government and not assigned to another statutory use would have to be held for at least 20 years after the law takes effect. During that period, the government would not be allowed to sell, exchange, auction, pledge, or otherwise dispose of the Bitcoin.
The measure still needs to pass the House and the Senate, and then be signed by President Donald Trump before it can take effect.
The bill also requires the Treasury Department to establish the reserve within 180 days after enactment and publish an annual proof-of-reserve report covering holdings, transactions, and control of private keys.
It also says the Treasury Department and the Commerce Department will study lawful and budget-neutral ways to increase Bitcoin holdings, but the provision does not authorize direct purchases. The report was cited by Bitcoin.com News.
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