House Committee Advances Bill for US Bitcoin Reserve

A House committee has advanced a bill to establish a Strategic Bitcoin Reserve and Digital Asset Stockpile, giving the Treasury 180 days to set it up.

The American Reserve Modernization Act was reported favorably by the House Financial Services Committee on Wednesday, with all 28 votes in favor coming from Republicans and all 21 against from Democrats.

Rep. French Hill (R-AR) called the bill 'a common-sense measure' that brings digital assets under Treasury custody and oversight.