House Panel Advances Bill to Establish Strategic Bitcoin Reserve

The U.S. House Financial Services Committee has advanced legislation that would put the federal Strategic Bitcoin Reserve on a statutory footing, moving a separate Bitcoin-focused initiative forward just one day after the Senate failed to advance broader cryptocurrency market-structure legislation.

The committee voted on September 16 to advance H.R. 8957, the American Reserve Modernization Act of 2026, which would direct the Treasury Department to establish and manage a Strategic Bitcoin Reserve for qualifying Bitcoin held by the federal government.

The bill was introduced in May by Rep. Nicholas Begich, R-Alaska, and referred to the House Financial Services Committee. Its stated purpose is to establish a Strategic Bitcoin Reserve and rules for the transparent management of federal Bitcoin holdings.

The House action came one day after the Senate failed to advance the CLARITY Act in a 49-50 procedural vote, leaving the broader U.S. digital asset market-structure effort stalled for now.

20-year holding period for reserve Bitcoin

One of the bill's central provisions is a proposed minimum 20-year holding period for Bitcoin deposited into the Strategic Bitcoin Reserve.

Under the introduced text, Bitcoin in the reserve could not be sold, swapped, auctioned, encumbered or otherwise disposed of during that period. Two years before the end of the holding period, the Treasury secretary would be required to provide Congress with recommendations on whether the government should continue holding the Bitcoin or begin a controlled release.

The proposal would therefore establish a long-term framework for federal Bitcoin custody rather than treating seized or otherwise qualifying Bitcoin as assets that could routinely be liquidated.

The bill also calls for quarterly public reporting of reserve holdings and transactions, including cryptographic proof that the government controls the assets, alongside independent verification and oversight.

Bill focuses on federal holdings rather than a fixed purchase target

H.R. 8957 does not set a requirement for the U.S. government to purchase a specified amount of Bitcoin, such as 1 million BTC.

Instead, the legislation would consolidate qualifying federal Bitcoin into the Strategic Bitcoin Reserve and establish mechanisms for considering additional acquisitions through strategies designed to avoid new taxes, borrowing or increases in the federal deficit.

The bill also proposes a separate Digital Asset Stockpile for non-Bitcoin digital assets held by the federal government. Under the introduced text, non-Bitcoin assets could be managed separately, with proceeds from certain dispositions directed toward increasing Bitcoin holdings or reducing the national debt.

From executive order to congressional legislation

The legislation would also shift the legal basis of the Strategic Bitcoin Reserve from executive action toward federal statute.

President Donald Trump established the Strategic Bitcoin Reserve through an executive order in March 2025, directing the government to retain qualifying Bitcoin obtained through forfeiture and establish a separate stockpile for other digital assets.

H.R. 8957 would establish a statutory structure for those holdings, including custody, reporting and management requirements.

The bill has attracted bipartisan support among its listed cosponsors, including Rep. Jared Golden, D-Maine, although the committee's consideration also drew opposition. Rep. Bill Foster, D-Ill., raised concerns during the markup about Bitcoin's risk and volatility, according to The Block.

Bitcoin reserve moves as CLARITY Act stalls

The timing places two different strands of U.S. crypto legislation on separate tracks.

The CLARITY Act seeks to establish a broader regulatory framework for digital assets, including rules governing market structure and the roles of federal regulators. Its Senate procedural vote on September 15 failed to reach the 60 votes required to advance.

The Strategic Bitcoin Reserve legislation is considerably narrower, focusing on the federal government's own Bitcoin holdings and how those assets would be stored, disclosed and managed.

The Senate setback also coincided with a decline in Bitcoin and crypto-related stocks. Bitcoin fell about 4% on September 15, while Coinbase and Circle shares dropped about 9% following the vote.

The reserve bill now faces additional steps before it could become law, including consideration by the full House and Senate approval.

For Washington's broader digital-asset agenda, the developments leave market-structure legislation and federal Bitcoin-reserve legislation moving on separate congressional tracks.