House Committee Advances Bill to Codify Trump’s Bitcoin Reserve Into Law

A bill aimed at turning President Trump’s executive order on a strategic Bitcoin reserve into permanent law cleared a key hurdle Wednesday, passing the House Committee on Financial Services in a 28-21 vote.

What The Bill Would Do

The American Reserve Modernization Act of 2026, introduced by Representative Nicholas Begich in May, would formally establish a Strategic Bitcoin Reserve along with a separate Digital Asset Stockpile inside the Treasury Department. These would hold Bitcoin and other digital assets the federal government seizes through criminal or civil forfeiture. Begich said the goal is to stop federal Bitcoin holdings from sitting in scattered, inconsistent custody, warning that the current setup creates cybersecurity risks and leaves the government without a clear picture of what it actually owns.

Under the bill, any Bitcoin placed in the reserve would need to stay locked up for a minimum of 20 years. It would also require every federal agency to fully disclose the digital assets it holds, backed by quarterly proof-of-reserve reports and independent audits. Separately, the legislation calls for a study on budget-neutral ways to grow the reserve and would let individual states store their Bitcoin holdings with the Federal Reserve. It also explicitly protects private Bitcoin ownership and self-custody rights, calling control over private keys central to financial freedom.

Wider Reaction and What Comes Next

The US government currently holds an estimated 324,527 Bitcoin, worth about $24.7 billion. Bitcoin Policy Institute executive director Connor Brown called the committee vote a historic moment for Bitcoin policy, while Strive CEO Matt Cole had earlier described the bill as the most important piece of crypto legislation to come out of Washington. The bill still needs approval from the full House and Senate before it can reach the president’s desk.