US lawmakers advance bill to lock Trump’s Bitcoin reserve into law
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
US lawmakers advanced the American Reserve Modernization Act of 2026 (H.R. 8957), designed to formalize President Donald Trump’s executive order to create a strategic Bitcoin reserve. The bill passed the US House Committee on Financial Services with a 28-21 vote and would establish a Strategic Bitcoin Reserve and a Digital Asset Stockpile within the Department of the Treasury for federally held Bitcoin and other digital assets obtained via forfeiture. The legislation aims to improve custody, transparency, and accounting of government-held Bitcoin.
Why it matters
According to Representative Nicholas Begich, the bill addresses cybersecurity risks and inconsistent custody of government Bitcoin, providing clearer ownership accountability. Bitcoin Policy Institute’s executive director Connor Brown described the bill as a historic step for Bitcoin policy, while industry leaders see it as significant crypto legislation. The bill’s passage moves the US government closer to making Bitcoin a lasting component of its reserves.
Key context
The US government reportedly holds approximately 324,527 Bitcoin, valued at $24.7 billion at the time of reporting, mostly acquired through criminal or civil forfeiture. The bill mandates a minimum 20-year holding period for Bitcoin in the federal reserve and requires federal agencies to report holdings with quarterly proof of reserve reports and third-party audits. It also supports private ownership rights by emphasizing control of private keys.
Key numbers and entities
US House Committee on Financial Services, Representative Nicholas Begich (bill introducer), Connor Brown (Bitcoin Policy Institute executive director), Matt Cole (Strive CEO), 324,527 Bitcoin held by US government valued at $24.7 billion, American Reserve Modernization Act of 2026 (H.R. 8957).
What remains unclear
The source does not specify the timeline for full congressional approval or when President Trump might sign the bill into law. Details on the operational implementation of the Strategic Bitcoin Reserve and Digital Asset Stockpile remain unspecified. The impact on broader federal asset management policies or potential opposition beyond the committee vote was not detailed.