House Panel Advances Digital Asset Bill Amid XRP Scrutiny

The House Financial Services Committee voted 28-21 on Wednesday to advance H.R. 8957. This legislation creates a Strategic Bitcoin Reserve and a separate Digital Asset Stockpile within the Treasury Department. The vote places federal digital asset holdings on a statutory footing.

The bill distinguishes between Bitcoin and other cryptocurrencies. Non-Bitcoin assets already held by the federal government will be placed in the new stockpile. The legislation does not authorize the government to purchase XRP, Solana, or Cardano.

Legislative Framework for Federal Assets

H.R. 8957, the American Reserve Modernization Act of 2026, mandates specific timelines for implementation. The Treasury Department must establish the reserve and stockpile within 180 days of enactment. Qualifying Bitcoin acquired by the government will enter the strategic reserve.

Other federal digital assets will be categorized under the Digital Asset Stockpile. This separation ensures Bitcoin receives preferential treatment under the new legal structure. The bill codifies the architecture previously outlined in executive orders.

XRP Excluded From Direct Acquisition

XRP remains a focal point despite its exclusion from direct government purchases. The bill does not name XRP, Solana, or Cardano specifically. The advancement of H.R. 8957 does not signal a plan to buy these tokens.

Previous executive orders restricted government acquisition of non-Bitcoin assets. Acquisitions were limited to forfeiture proceedings or civil penalties. H.R. 8957 moves this restriction into federal law. The government cannot purchase XRP without further legislative or executive action.

Market Context and Senate Setback

The committee vote follows a recent failure in the Senate. The CLARITY Act did not advance, setting back comprehensive market-structure legislation. This creates a fragmented regulatory landscape for digital assets.

GN auto markets/crypto: digital asset reports that the stockpile debate has intensified. The distinction between reserves and stockpiles defines the current policy direction. The focus remains on managing existing government holdings rather than expanding them.