US House Financial Services Committee advances Bitcoin strategic reserve bill

The US House Financial Services Committee voted 28-21 to advance the American Reserve Modernization Act (H.R. 8957). The bill requires the Treasury to establish a strategic Bitcoin and digital asset reserve within 180 days and mandates federal agencies to report holdings within 60 days. Bitcoin held in the reserve cannot be sold or pledged for 20 years. The legislation does not authorize new purchases but directs the Treasury and Commerce departments to study budget-neutral acquisition strategies.