The House Financial Services Committee advanced legislation on September 16 to establish a federal Bitcoin reserve, voting 28–21 to report H.R. 8957 favorably. The American Reserve Modernization Act of 2026 would create a statutory framework requiring a 20-year holding period and annual independently audited reporting of federal digital asset holdings.
Sponsored by Rep. Nicholas Begich of Alaska, the bill would establish a Strategic Bitcoin Reserve and separate Digital Asset Stockpile within the Treasury Department. The measure builds on President Donald Trump's March 6, 2025 executive order, which directed the establishment of a Strategic Bitcoin Reserve and instructed Treasury and Commerce to develop budget-neutral acquisition strategies.
Key Requirements
Under the adopted substitute amendment, Bitcoin deposited in the reserve must remain there for at least 20 years from enactment. During this period, selling, swapping, auctioning, or otherwise disposing of the Bitcoin would be prohibited. The bill excludes assets legally required for other purposes from the reserve.
The legislation requires Treasury to submit a study within one year addressing possible conditions for early sales and legislative recommendations for exceptions to the holding requirement.
Oversight and Reporting
The bill calls for public cryptographic proof of reserves and annual reports covering holdings, transactions, and control of private keys, verified by an independent third-party auditor. The Comptroller General would regularly oversee the reserve, reports, and audits.
Agencies would provide Treasury with a complete accounting of their Bitcoin and other digital assets within 60 days of enactment, then annually. Qualifying holdings would transfer into the reserve or stockpile within 30 days after those structures are established.
Future Acquisition
The bill requires Treasury and Commerce to conduct a 180-day study on the risks, costs, and potential benefits of acquiring additional Bitcoin, including whether acquisitions could be budget neutral. This establishes a study requirement rather than an authorized purchase program.
The committee rejected an amendment from Rep. Maxine Waters and adopted a substitute amendment by Rep. Bryan Steil. The measure requires further legislative action before becoming law.
