The bill requires Bitcoin in the reserve to be held for at least 20 years
The US House Financial Services Committee approved the American Reserve Modernization Act of 2026, registered as H.R. 8957, by 28 votes to 21. Introduced on 21 May by Representative Nicholas Begich, the measure seeks to turn Donald Trump’s executive order on the strategic Bitcoin reserve into law.
The bill would establish a Strategic Bitcoin Reserve at the Department of the Treasury, along with a separate digital asset reserve for Bitcoin and other digital assets held federally and acquired through civil or criminal forfeiture. The measure would require Bitcoin in the reserve to be held for at least 20 years.
Begich said federal custody is fragmented and inconsistent, creating cybersecurity risks and leaving no complete accounting of government holdings. The bill would require all federal agencies to report digital assets they hold or control and introduce quarterly proof-of-reserves reports and third-party audits.
The proposal also calls for a study of acquisition strategies with no impact on the federal budget and would allow states to store Bitcoin with the Federal Reserve. The text recognises private ownership and Bitcoin self-custody, identifying control of private keys among the principles of financial sovereignty, privacy and individual liberty. After the committee vote, H.R. 8957 must be approved by the full House and the Senate before reaching the president.
