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House Committee Advances Bill to Write Trump's Strategic Bitcoin Reserve Into Law
The bill would codify Trump’s Bitcoin reserve policy and require federal agencies to account for digital assets, with 324,527 Bitcoin held by the government, Arkham said.
- On Wednesday, the House Committee on Financial Services passed The American Reserve Modernization Act in a 28-21 vote, advancing President Donald Trump's executive order to establish a Strategic Bitcoin Reserve into federal law.
- The legislation codifies Trump's policy by establishing a Strategic Bitcoin Reserve and a Digital Asset Stockpile within the Department of the Treasury, with assets locked for 20 years to ensure permanence.
- Arkham Intelligence estimates the U.S. government holds 324,527 Bitcoin worth $24.7 billion, while the bill mandates quarterly "proof of reserve" reports and third-party audits to improve transparency.
- Bitcoin Policy Institute executive director Connor Brown called the bill a "genuinely historic step," while critics argue the plan presents cybersecurity risks and fails to provide adequate accounting.
- Committee approval clears a significant hurdle, though the legislation still requires passage by the full House and Senate before reaching Trump's desk for signature.
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US Congress Advances Bill to Create Strategic Bitcoin Reserve
Congress is advancing a bill to create a U.S. strategic Bitcoin reserve, directing the Treasury to retain seized coins instead of selling them. Inspired by oil and gold reserves, the plan aims to treat Bitcoin as a scarce national asset, potentially reducing selling pressure, boosting legitimacy, and supporting long-term price stability. This marks a major policy shift.
Congress Votes 28-21 to Lock 324,527 Bitcoin into a Federal Reserve
U.S. lawmakers moved fast. The House Committee on Financial Services cleared H.R. 8957 — the American Reserve Modernization Act of… Read the original on Congress Advances American Reserve Modernization Act to Secure 324,527 Bitcoin in Federal Reserve. For more crypto news and analysis, visit TheCurrencyAnalytics.com.
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Total News Sources20
Leaning Left0Leaning Right1Center4Last UpdatedBias Distribution80% Center
Bias Distribution
- 80% of the sources are Center
80% Center
C 80%
R 20%
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