The US House Committee on Financial Services has approved legislation to create a federal Bitcoin reserve, marking a significant shift in how the US government manages digital assets. The American Reserve Modernization Act of 2026 (H.R. 8957) was passed in a 28-21 vote, authorising the Department of the Treasury to establish a Strategic Bitcoin Reserve and a Digital Asset Stockpile. The measure aims to centralise federal holdings of Bitcoin, mandate quarterly transparency reports, and affirm private custody rights for the asset.
The bill, introduced by Representative Nicholas Begich, seeks to address concerns over the current fragmented custody of Bitcoin held by the US government, which is estimated to own 324,527 units valued at $24.7 billion. Under the legislation, Bitcoin in the reserve would be held for a minimum of 20 years, with third-party audits required to verify reserves. The measure also permits states to store their Bitcoin holdings in the Federal Reserve.
Proponents of the bill have hailed it as a landmark development for cryptocurrency policy. Connor Brown of the Bitcoin Policy Institute called it “a genuinely historic step for Bitcoin policy,” while Strive CEO Matt Cole described it as “the single most important crypto legislation that can come out of DC.” The legislation faces potential hurdles in the Senate and requires presidential approval to become law.
Written by Kate Harper
Economics Desk
