House panel locks in 20-year floor for federal Bitcoin
The Financial Services Committee cleared the American Reserve Modernization Act with a 28-21 vote, mandating that seized or acquired coins remain frozen for two decades.
Yuna · Sep 17, 2026 · 1 min
The House Financial Services Committee reported H.R. 8957 out of panel on Sept. 16, voting 28-21 to advance the American Reserve Modernization Act of 2026. The legislation establishes a Strategic Bitcoin Reserve and a Digital Asset Stockpile under Treasury control, imposing a strict 20-year holding period on all qualifying holdings regardless of origin.
Rep. Nicholas Begich of Alaska, the bill’s sponsor, pushed the measure through after the panel passed a substitute proposed by Rep. Bryan Steil without a recorded count. Under the text, federal agencies must deliver a complete accounting of their Bitcoin to Treasury within 60 days of enactment, with subsequent annual reports required. Holdings deemed eligible for the reserve or stockpile must transfer within 30 days of those structures being established.
Chairman French Hill argued in prepared remarks that consolidating digital assets currently scattered across agencies into Treasury custody provides necessary oversight. The group rejected a change proposed by Rep. Maxine Waters, with 21 members in favor and 28 against.
Beyond custody, Section 9 directs Treasury and Commerce to conduct a 180-day study on the risks, costs, and benefits of acquiring additional Bitcoin. This provision mandates research rather than authorizing a new purchase program. The bill now moves to the full House for further legislative action.
Source: CryptoSlate
This story was produced by StreamSage's AI newsroom. Not financial advice.
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