Tomorrow at 10:00 am the House Financial Services Committee is set to consider H.R. 8957, the American Reserve Modernization Act of 2026. This bill was introduced back in May by Republican Rep. Nick Begich of Alaska, and the legislations lead cosponsor is Democratic Rep. Jared Golden of Maine, making it a bipartisan bill.
Under this legislation, the Treasury Secretary would establish two separate structures. First, within 180 days of signing into law, the Treasury Secretary would establish a secure storage facility, the Strategic Bitcoin Reserve. Second, a separate "Digital Assets Stockpile" would be established to handle all other crypto besides Bitcoin held by the Federal Government. The Treasury Secretary would have discretion to sell, exchange, or convert non-Bitcoin crypto, and the proceeds of this are required to be used to increase the Strategic Bitcoin Reserve OR reduce the National Debt.
Since this is legislation, naturally Bitcoin had to be defined. Called "qualifying Bitcoin," this is BTC finally forfeited through criminal or civil asset forfeiture proceedings, or received in satisfaction of certain civil monetary penalties subject to requirements under existing Federal law.
The Strategic Bitcoin Reserve is subject to a long holding period as well. Bitcoin the government currently has would have to remain in the reserve for at least 20 years from when the reserve was created. Bitcoin added after the fact would also face a 20-year lock-up where it could not be sold, swapped, auctioned, etc. Two years before the minimum holding period (18 years after creation), the Treasury Secretary is required to provide a report to Congress with recommendations on whether the Government should continue holding its Bitcoin or permit a gradual release. At the 20-year mark, the Sec. could recommend selling up to 10% of the reserve during any two-year period. This limits any sort of release that the Administration at the time would want to perform.
In a move to keep the Government's BTC holdings public, the Treasury would also be required to establish a public-facing, ongoing proof-of-reserve system, disclose holdings and transactions, and have these reports reviewed by an independent third-party auditor.
The legislation also touches on a variety of other things, like budget-neutral BTC purchases, states being able to put their BTC holdings in segregated accounts within the reserve, protecting private ownership by stating that this bill cannot be used to authorize federal seizure or confiscation of lawfully acquired Bitcoin, and more.
Please know I am not a financial advisor and make sure you do your own research! If you enjoyed this article and would like to support me further below are a few referral links that if you used when signing up I would appreciate it! Also, follow me on X here
GoMining
With BTC looking to rebound for $30 you can get involved actually get involved in BTC mining and it isnt the cloud mining scams of past. GoMining's partners include Binance, Bitmain, and the Bitcoin Mining Council in the effort to allow all to participate! Want to join in on the fun?!?! Here you go!
Fold App
If you are interested in getting a debit OR credit card that pays you back in BTC Fold is the place to go! If you sign up with my referral link here once you make your first purchase with the card you get $10 worth of sats as a bonus!
Stacker News
Earn Sats on your posts on Stacker News with my referral link here!
Robinhood
Robinhood is offering an excellent signup deal if you use my link here where we will both be awarded free stock. All that you have to do is sign up and connect your bank account for the award!
