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US lawmakers advance bill to lock Trump’s Bitcoin reserve into law
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US lawmakers advanced legislation to lock President Donald Trump’s strategic Bitcoin reserve into law on Wednesday, as the House Committee on Financial Services approved the American Reserve Modernization Act of 2026 in a 28-21 vote.
The bill, H.R. 8957, was introduced by Representative Nicholas Begich on May 21. It would establish a Strategic Bitcoin Reserve and a separate Digital Asset Stockpile within the Department of the Treasury for federally held Bitcoin and other digital assets acquired through criminal or civil forfeiture.
The US government is estimated to hold 324,527 Bitcoin, worth about $24.7 billion at the time of writing, according to Arkham Intelligence. Under ARMA, Bitcoin held in the federal reserve would have to be locked up for a minimum of 20 years.
Begich argued that federal Bitcoin cannot be allowed to “languish in fragmented and inconsistent custody,” warning of unacceptable cybersecurity risks and inadequate accounting of what the government actually owns. The legislation requires all federal agencies to provide a full accounting of the digital assets they hold or control.
It also establishes transparency measures, including quarterly “proof of reserve” reports and third-party audits. The bill directs a study of budget-neutral acquisition strategies for expanding the reserve, allows states to store their Bitcoin at the Federal Reserve, and affirms private ownership and self-custody rights.
Bitcoin Policy Institute executive director Connor Brown called the committee vote “a genuinely historic step for Bitcoin policy.” Strive CEO Matt Cole said in May it was “the single most important crypto legislation that can come out of DC.”
The committee’s approval clears one obstacle, but the bill still must pass the full House and Senate before it can reach the president’s desk.
