The House Financial Services Committee approved the American Reserve Modernization Act (H.R. 8957) with a 28-21 vote. The bill mandates that the U.S. Treasury establish a strategic bitcoin reserve and a separate repository for other digital assets within 180 days of enactment.
Federal agencies must inventory their current cryptocurrency holdings. Bitcoin not designated for other legal purposes will be transferred to the reserve. These assets are prohibited from being sold, traded, or pledged for 20 years. After this period, the Treasury may propose selling up to 10% of the holdings every two years.
Other digital assets may be sold by the Treasury, with proceeds used to cover management costs and reduce the national debt. The bill requires annual reports, independent audits, and oversight by the Government Accountability Office. States may voluntarily store their own bitcoin with the Treasury while retaining ownership.
The Treasury and the Department of Commerce must study methods to replenish the reserve without increasing taxes, borrowing, or the national debt. The bill now moves to the full House of Representatives, followed by the Senate and the President's signature. President Donald Trump previously established a strategic bitcoin reserve via executive order on March 6, 2025.
