US House Committee Reviews Strategic Bitcoin Reserve Bill

The House Financial Services Committee began a markup session on September 16 for H.R. 8957, the American Reserve Modernization Act of 2026, which would codify a Strategic Bitcoin Reserve within the U.S. Treasury [1, 3]. The legislation aims to transition existing executive policy into binding federal law, potentially limiting the ability of future administrations to unilaterally alter the government's digital asset strategy [2, 3].

Legislative framework and supply impact

The proposed bill, introduced by Rep. Nick Begich on May 21, 2026, seeks to formalize the consolidation of government-held Bitcoin, a process initiated by President Trump’s March 2025 executive order [2, 3]. If enacted, the legislation would impose a 20-year prohibition on the sale, swap, or encumbrance of these assets, effectively removing them from the circulating supply [2, 3]. Because the reserve would be capitalized primarily through existing forfeited assets rather than new open-market purchases, the bill avoids direct competition with private investors for available supply [2, 3].

Beyond the Bitcoin reserve, the bill establishes a separate "Digital Asset Stockpile" for non-Bitcoin tokens [2, 3]. While the Treasury would be prohibited from selling Bitcoin, the bill allows for the conversion of non-Bitcoin assets, with proceeds directed toward either purchasing more Bitcoin or reducing the national debt [3]. The Treasury would be required to establish secure storage infrastructure within 180 days of the bill’s enactment [2, 3].

Oversight and accountability

To ensure transparency, the bill mandates quarterly proof-of-reserve reports to be published on the Treasury’s website [2, 3]. These reports must be verified by an independent third-party auditor, with additional oversight provided by the Government Accountability Office [3]. The legislation also includes provisions for states to place Bitcoin in segregated Treasury accounts while maintaining legal title to their holdings [3].

The markup session represents an early legislative step for the measure [3]. To become law, the bill must clear the full House, survive Senate consideration, and be signed by the president [2]. The committee’s review coincides with broader regulatory discussions in Washington, including separate procedural votes on the CLARITY Act regarding digital asset market structure [3].

What to watch

• Committee Vote: Monitor the outcome of the September 16 markup session to see if the bill advances to a full House floor vote [3].
• Legislative Amendments: Watch for potential changes to the 20-year lockup provision or the scope of the Digital Asset Stockpile as the bill moves through the congressional process [3].
• Senate Activity: Track the progress of the separate CLARITY Act, which addresses broader market structure, to gauge the current legislative appetite for digital asset regulation [3].

The success of H.R. 8957 would mark a significant shift in federal policy, moving Bitcoin custody from an executive-led initiative to a statutory requirement. The primary question remains whether the bill can maintain its bipartisan co-sponsorship as it faces the complexities of the full legislative process.