US Lawmakers Advance Bill to Formalize Government-Held Bitcoin Program
A bill to create a 'Strategic Bitcoin Reserve' alongside a separate 'Digital Asset Stockpile' at the Department of the Treasury has cleared the House Committee on Financial Services in a 28-21 vote. The American Reserve Modernization Act of 2026, which aims to formalize President Donald Trump's plan for a government-held Bitcoin program, would require federal agencies to deliver a complete accounting of digital assets they currently hold or control.
The bill, H.R. 8957, also sets out transparency measures intended to make federal crypto holdings easier to verify. It would require quarterly 'proof of reserve' reports and third-party audits, which could reduce uncertainty and improve confidence in claims about who controls what.
Bitcoin held under the reserve would be required to remain in federal custody for at least 20 years, with the bill also allowing states to store their Bitcoin in the Federal Reserve. The legislation includes language that preserves private participation in Bitcoin, affirming private ownership and the right to self-custody as 'fundamental to the principles of financial sovereignty, privacy, and personal liberty in the digital age.'