The House Financial Services Committee has approved the American Reserve Modernization Act, H.R. 8957, with a vote of 28 to 21. The legislation, which seeks to codify the Strategic Bitcoin Reserve established by President Donald Trump in March 2025, passed along party lines with Republicans supporting and Democrats opposing the measure.
The bill mandates that the Treasury establish a Strategic Bitcoin Reserve and a Digital Asset Stockpile within 180 days. Federal agencies are required to report their holdings within 60 days. Once assets are deposited, the legislation prohibits the sale, swap, or disposal of Bitcoin for a period of 20 years.
The approved version of the bill is more limited than the original proposal introduced in May. It removes provisions related to using Federal Reserve gold certificates or surplus remittances for Bitcoin acquisitions. Funding mechanisms are now restricted to asset swaps, forfeitures, and state-level cooperative programs.
Reporting requirements for proof-of-reserve have been reduced from quarterly to annual. Additionally, the bill mandates that proceeds from selling stockpile assets must first cover management costs. The definition of qualifying Bitcoin has been expanded to include all digital assets currently owned by the federal government.
The legislation does not authorize new Bitcoin purchases but directs the Treasury and Commerce departments to study the feasibility of acquisitions without taxpayer costs within 180 days. The bill must now pass the full House of Representatives, and it currently lacks a companion version in the Senate.
