US lawmakers advance bill to lock Trump’s Bitcoin reserve into law
The legislation would effectively codify Trump’s Bitcoin reserve policy, locking up Bitcoin acquired through civil and criminal forfeiture for 20 years.
The American Reserve Modernization Act of 2026, also known as H.R. 8957, has advanced in the United States House Committee on Financial Services after a 28-21 vote. The legislation aims to solidify President Donald Trump's plan to establish a strategic Bitcoin reserve, locking up any Bitcoin acquired through civil and criminal forfeiture for a minimum of 20 years.
The bill would create a Strategic Bitcoin Reserve and a Digital Asset Stockpile within the Department of the Treasury, overseeing federal holdings of Bitcoin and other digital assets. US Representative Nicholas Begich introduced the bill on May 21, stressing the need for secure custody and transparency of federal digital assets.
Currently, the US government is believed to possess around 324,527 Bitcoin, valued at $24.7 billion at the time of writing. The ARMA mandates quarterly "proof of reserve" reports and third-party audits, as well as a study on budget-neutral strategies for expanding the reserve. The bill would also protect private ownership and self-custody rights of Bitcoin, recognizing the importance of financial sovereignty, privacy, and personal liberty in the digital age.
The approval by the committee is a significant milestone, but the bill must still pass the full House and Senate before reaching President Biden.
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