US lawmakers advanced legislation on Wednesday to establish a formal Strategic Bitcoin Reserve within the Department of the Treasury. The American Reserve Modernization Act of 2026 (H.R. 8957) passed the House Committee on Financial Services in a 28-21 vote.
The bill would create a Strategic Bitcoin Reserve and a separate Digital Asset Stockpile for federally held Bitcoin and other digital assets acquired through criminal or civil forfeiture. US Representative Nicholas Begich, who introduced the bill on May 21, cited cybersecurity concerns and accountability issues with current federal Bitcoin holdings. "We cannot allow Bitcoin to be held by the federal government to languish in fragmented and inconsistent custody," Begich said. "It poses unacceptable cybersecurity risks and fails to give an adequate accounting of what the federal government actually owns."
According to Arkham Intelligence, the US government holds an estimated 324,527 Bitcoin, valued at $24.7 billion at the time of the vote.
Key Provisions
Under the legislation, Bitcoin in the federal reserve would be required to be held for a minimum of 20 years. The bill mandates that all federal agencies provide a full accounting of digital assets they currently hold or control and establishes transparency requirements, including quarterly "proof of reserve" reports and third-party audits.
The measure also directs a study of budget-neutral acquisition strategies for expanding the Strategic Bitcoin Reserve and permits states to store their Bitcoin holdings in the Federal Reserve.
Additionally, the bill affirms private ownership and self-custody rights, describing the control of private keys as "fundamental to the principles of financial sovereignty, privacy, and personal liberty in the digital age."
Next Steps
The committee approval represents progress for the legislation, but it still requires passage by the full House and Senate before reaching the president's desk.
