House Committee Advances Legislation for Federal Bitcoin Reserve

The U.S. House Financial Services Committee has advanced legislation to place the federal Strategic Bitcoin Reserve into law, voting 28-21 on September 16 to report the amended H.R. 8957 favorably.

Introduced by Rep. Nick Begich of Alaska with Rep. Jared Golden of Maine as co-lead, the American Reserve Modernization Act of 2026 aims to centralize federal digital-asset custody and require government accounting of the assets.

The legislation would create a statutory Strategic Bitcoin Reserve and a separate Digital Asset Stockpile inside the Treasury Department, covering Bitcoin that has been finally forfeited through criminal or civil proceedings or obtained through certain civil penalties. The reserve would have to hold the assets for at least 20 years from enactment.