US House Committee Approves Bitcoin Reserve Bill 28 to 21
The American Reserve Modernization Act passed a key committee hurdle. The vote was 28 to 21 in favor.
The US House Committee on Financial Services voted 28-21 to advance the American Reserve Modernization Act. This vote moves the legislation to the next stage of the congressional process.
The bill formalizes the creation of a Strategic Bitcoin Reserve within the Department of the Treasury. It also establishes a separate Digital Asset Stockpile for other held assets.
Federal holdings reach $24.7 billion
The US government holds an estimated 324,527 Bitcoin. The value of this stockpile stands at $24.7 billion. These assets were acquired through criminal and civil forfeiture.
Transparency rules define the new reserve
The legislation mandates a minimum holding period of 20 years for the reserve. It requires all federal agencies to provide a full accounting of digital assets. Quarterly proof of reserve reports and third-party audits are also required.
The bill affirms private ownership and self-custody rights of Bitcoin. It describes control of private keys as fundamental to financial sovereignty. The text explicitly protects individual liberty in the digital age.
Legislative path remains incomplete
Committee approval clears one hurdle for the legislation. The bill must still pass the full House and Senate. It then requires a presidential signature to become law.
