House Committee Advances US Bitcoin Reserve Bill on Party-Line Split
A House committee advanced H.R. 8957, the American Reserve Modernization Act, to formally create President Trump’s Strategic Bitcoin Reserve and a separate Digital Asset Stockpile. The bill passed committee 28–21 along party lines, and a Waters amendment failed the same way. The measure gives Treasury 180 days to establish the reserve and stockpile and requires federal agencies to report holdings within 60 days. Bitcoin placed in the reserve could not be sold, swapped, auctioned, encumbered, or otherwise disposed of for 20 years. The version approved is narrower than the original. It removed proposed funding sources tied to Federal Reserve remittances and gold revaluation, leaving only asset swaps, forfeitures, and state cooperation. It also weakens reporting requirements and shortens the holding period for forked or airdropped assets to one year. The bill does not authorize new Bitcoin purchases, though it directs Treasury and Commerce to study whether purchases could be made without taxpayer cost. It still must pass the full House, and the Senate has not acted.
