House Weighs Strategic Bitcoin Reserve Bill Amid Steil Amendment Debate

The US House of Representatives is set to discuss and potentially advance the Strategic Bitcoin Reserve bill today. The bill, also known as the American Reserve Modernization Act (H.R. 8957), aims to establish a Strategic Bitcoin Reserve and other programs to ensure transparent management of Bitcoin holdings by the US government.

The bill was introduced by Representatives Nicholas Begich and Jared Golden on May 21, in response to President Trump's executive order to establish a Strategic Bitcoin Reserve. The bill requires the U.S. Treasury Department to establish a Strategic Bitcoin Reserve within 180 days of its enactment and a separate Digital Asset Stockpile for crypto assets such as Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA).

Bryan Steil, Chairman of the Financial Services Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence, has filed an amendment in the nature of a substitute. If adopted today, it would replace the entire Begich text and insert minor changes to the Strategic Bitcoin Reserve bill.