US House Committee Advances Bitcoin Reserve Bill with 20-Year Holding Requirement

The U.S. House Financial Services Committee passed the revised H.R. 8957, the "Bitcoin Reserve Modernization Act," by a 28-21 vote. The bill proposes incorporating a strategic Bitcoin and digital asset reserve into federal law, requiring the government to hold Bitcoin for at least 20 years without sale or disposal. The bill requires passage by the House and Senate and the President's signature. It mandates the Treasury to establish reserves within 180 days of enactment and provide annual proof-of-reserve reports.