House Committee advances US Bitcoin Reserve and digital asset bill

The U.S. House Financial Services Committee has advanced H.R. 8957, known as the American Reserve Modernization Act of 2026, with a 28-21 vote. The legislation aims to codify existing executive policies regarding federal cryptocurrency holdings into permanent law.

The bill proposes the creation of two distinct entities within the Treasury Department: a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile. Under the proposed rules, any Bitcoin held in the Strategic Bitcoin Reserve must be maintained for a minimum of 20 years from the date of the act's enactment. The Digital Asset Stockpile would house other digital assets, including those previously identified in executive orders such as XRP, SOL, and ADA.

If passed, federal agencies would be required to report all currently held digital assets within 60 days of enactment, with the Treasury taking custody within 30 days thereafter. The bill also mandates quarterly public Proof of Reserve reports to ensure transparency and auditability of government holdings. The measure now moves forward for consideration by the full House, requiring subsequent Senate approval and the President's signature to become law.