House Financial Services Committee to mark up Strategic Bitcoin Reserve bill on Wednesday

The House Financial Services Committee will take up H.R. 8957, the American Reserve Modernization Act of 2026, on Wednesday, September 16. The bill would codify a Strategic Bitcoin Reserve managed by the Treasury Department, turning what started as an executive order into binding federal law. What’s actually in the bill The legislation, introduced by Rep. Nick Begich (R-AK) on May 21, 2026, carries more than 20 co-sponsors, including Democratic Rep. Jared Golden of Maine. At its core, ARMA would impose a mandatory 20-year lockup on all Bitcoin held in the reserve. No trades, no swaps, no sales. The bill also mandates quarterly proof-of-reserve reports conducted by third-party auditors. Within 180 days of the bill’s enactment, the Treasury would need to establish secure storage infrastructure for the Bitcoin holdings. The reserve would primarily consist of Bitcoin already seized through criminal and civil forfeitures, meaning no new market purchases and no fresh taxpayer dollars. Notably, the bill also creates a separate category called the Digital Asset Stockpile for non-Bitcoin digital assets. From executive order to legislation ARMA builds on a March 2025 executive order from Pre...