A US congressional committee has advanced legislation that would formally establish a Strategic Bitcoin Reserve and place the federal government’s digital-asset holdings under a unified framework.
The American Reserve Modernization Act of 2026, or H.R. 8957, passed the House Committee on Financial Services by a 28-21 vote on Wednesday. Introduced by Representative Nicholas Begich on May 21, the bill must still pass the full House and Senate before it can reach the president’s desk.
Separate structures for Bitcoin and seized digital assets
Under the proposed law, the Treasury Department would oversee two separate entities: a Strategic Bitcoin Reserve for federally held Bitcoin and a Digital Asset Stockpile for other digital assets obtained through criminal or civil forfeiture.
The bill would require Bitcoin placed in the reserve to remain there for at least 20 years. It also directs federal agencies to provide a complete accounting of the digital assets they currently hold or control.
Additional oversight measures would include quarterly proof-of-reserve reports and audits conducted by independent third parties. The legislation would also create mechanisms for expanding the reserve and allow states to store Bitcoin with the Federal Reserve.
Federal Bitcoin holdings estimated at $24.7 billion
Arkham Intelligence estimates that the US government holds 324,527 Bitcoin, worth approximately $24.7 billion at the time of writing. The proposed framework is intended to replace what Begich described as fragmented and inconsistent custody arrangements.
“We can no longer allow Bitcoin to be held by the federal authorities to languish in fragmented and inconsistent custody,” Begich said. He added that the current approach creates cybersecurity risks and makes it difficult to determine exactly what the government owns.
The bill also affirms the rights of individuals to own Bitcoin and maintain custody of their own private keys, describing self-custody as central to financial sovereignty, privacy and personal liberty.
Committee approval represents a significant step for the proposal, but its future remains dependent on votes in both chambers of Congress.
