US House committee to review American Reserve Modernization Act

The U.S. House Financial Services Committee is scheduled to review the American Reserve Modernization Act on September 16. The bill aims to codify the management of federal Bitcoin holdings, which are currently governed by presidential decree. The proposed legislation would establish a Bitcoin reserve and a separate inventory for other digital assets, with a requirement to hold the Bitcoin reserve for at least 20 years. The committee, chaired by French Hill, will consider an amendment that includes annual reporting requirements.