The U.S. House Financial Services Committee is preparing to review a bill that would officially create a Strategic Bitcoin Reserve and require the government to hold its Bitcoin for at least 20 years.
The committee is scheduled to consider H.R. 8957, the American Reserve Modernization Act of 2026, on Sept. 16 at 10:00 a.m. ET. The bill was introduced by Republican Rep. Nick Begich of Alaska in May and has Democratic Rep. Jared Golden of Maine among its cosponsors.
If passed, the bill would require the Treasury Department to create two separate systems for government-held digital assets. One would be the Strategic Bitcoin Reserve for Bitcoin, while the other would be a Digital Asset Stockpile for cryptocurrencies other than Bitcoin.
The bill would place qualifying government-held Bitcoin into the reserve. This mainly includes Bitcoin obtained through criminal or civil asset forfeitures or received through certain penalties.
One of the biggest parts of the bill is its 20-year holding requirement. Bitcoin already placed in the reserve would have to stay there for at least 20 years after the law takes effect. Bitcoin added later would face a 20-year holding period starting from the date it enters the reserve.
During that period, the government could not sell, exchange, auction, use as collateral or otherwise dispose of the Bitcoin, except where allowed under the legislation.
Two years before the holding period ends, the Treasury secretary would have to give Congress recommendations on whether the government should continue holding the Bitcoin or begin releasing it gradually. After the 20-year period expires, the secretary could recommend selling up to 10% of the reserve during any two-year period.
The bill would also create a public proof-of-reserve system. Treasury would have to publish quarterly reports showing the government’s Bitcoin holdings and transactions while using cryptographic methods to prove control of the related private keys.
The reports would be published on the Treasury website and reviewed by an independent auditor with experience in cryptographic verification. The Comptroller General would oversee the reserve, reports and audits.
Federal agencies would also have 60 days after the law takes effect to report all Bitcoin and other digital assets they hold, have seized or control. Once the Treasury reserve and stockpile are ready, agencies would generally have 30 days to transfer the applicable assets.
The bill does not require the government to purchase a specific amount of Bitcoin. Instead, Treasury and the Commerce Department would have 180 days to study ways to acquire additional Bitcoin over the next five years without increasing the national debt.
The study could consider methods such as using assets from the Digital Asset Stockpile, Federal Reserve remittances, gold certificate revaluation and Bitcoin received through forfeitures, penalties or settlements.
It could also examine tax payments, tariff revenue, voluntary contributions, gifts and partnerships with states, private companies or international groups.
However, the bill makes clear that these methods cannot involve new borrowing, new taxes, deficit spending or additional costs for taxpayers.
This makes the proposal different from Senator Cynthia Lummis’ BITCOIN Act, which called for the government to acquire 1 million Bitcoin over five years. The House bill does not set a fixed purchase target but keeps the long-term holding requirement.
The legislation would also allow states to voluntarily place their Bitcoin into separate accounts within the federal Strategic Bitcoin Reserve. States would continue to own their Bitcoin and would have agreements with Treasury covering security, access and custody.
The bill also includes protections for private Bitcoin ownership. It says the legislation cannot be used to authorize the federal government to seize or confiscate legally acquired Bitcoin.
Individuals, businesses and organizations would continue to have the right to legally buy, hold, transfer and dispose of Bitcoin and other digital assets, including keeping control of their own private keys.
President Donald Trump already created a Strategic Bitcoin Reserve through an executive order in March 2025. H.R. 8957 would now move to put that reserve structure into federal law.
The Sept. 16 committee markup is an important step, but it does not mean the bill has become law. It would still need to move through the legislative process before the proposed reserve and its 20-year holding rules become permanent.
