Overview
- The House Financial Services Committee reported H.R. 8957 favorably in a 28–21 vote on Sept. 16, moving the American Reserve Modernization Act toward possible full House consideration.
- Under the bill the Treasury would create a Strategic Bitcoin Reserve and a separate Digital Asset Stockpile and would generally be required to hold qualifying Bitcoin for at least 20 years.
- The proposal mandates recurring public proof-of-reserve disclosures and independent third-party audits to verify Treasury control of private keys and holdings.
- Federal holdings are estimated at about 324,527 BTC, mainly from criminal or civil forfeitures, and the bill directs a study into budget-neutral methods for adding assets while barring new taxes, borrowing, or deficit spending for purchases.
- Significant hurdles remain because the measure must pass the full House and the Senate and face legal and partisan challenges over Treasury authority, operational security, and the plan’s long holding requirement with implementation steps set by statute.