Lawmakers Solidify Trump's Bitcoin Reserve Plan Amid Growing Transparency Demands

US lawmakers have taken a significant step in solidifying President Donald Trump's executive order to establish a strategic Bitcoin reserve into law. The American Reserve Modernization Act of 2026 (H.R. 8957) passed the US House Committee on Financial Services with a 28-21 vote, clearing a hurdle for its advancement.

The bill would create a Strategic Bitcoin Reserve and a separate Digital Asset Stockpile within the Department of the Treasury to house federally held Bitcoin and other digital assets acquired through criminal or civil forfeiture. This move aims to address concerns about fragmented custody and inadequate accounting of federal government-owned assets, with Rep. Nicholas Begich stating that 'we cannot allow Bitcoin to be held by the federal government to languish in fragmented and inconsistent custody.'

The legislation also establishes transparency measures, including quarterly 'proof of reserve' reports and third-party audits. Furthermore, it directs a study on budget-neutral acquisition strategies for expanding the Strategic Bitcoin Reserve and allows states to store their Bitcoin in the Federal Reserve.