House Financial Services Committee to Review U.S. "Bitcoin Reserve" Bill

The U.S. House Committee on Financial Services is set to take up the American Reserve Modernization Act (ARMA) on Sept. 16 at 10:00 a.m., according to CoinDesk. The proposal would create a national Bitcoin reserve and spell out rules for how the federal government may hold, dispose of, and allocate digital assets. Under the bill, any Bitcoin added to the national reserve would be locked up for 20 years. During that period, the government would be barred in principle from trading or selling the holdings, with a narrow exception: sales could be allowed if proceeds are used directly to repay outstanding federal debt. The structure is designed to treat the reserve as a long-term strategic asset rather than a vehicle for routine fiscal management. ARMA would also redirect Bitcoin obtained through criminal forfeiture or seizure away from public auctions, requiring it to be transferred into the national Bitcoin reserve. Beyond Bitcoin, the bill would establish a "Digital Asset Reserve" for other designated tokens. Those assets could be sold or swapped into Bitcoin, and proceeds could likewise be applied toward paying down the national debt. The legislation includes a "budget-neutral" framework that would prohibit building the Bitcoin reserve through newly incurred debt, tax increases, or deficit spending. It directs the Treasury Department and the Commerce Department to study methods for accumulating 1 million BTC over five years. Potential funding sources for purchases include fiscal surplus funds and a portion of the Federal Reserve's net earnings. The bill calls for quarterly audits of the reserves by a third-party institution and requires decentralized, physically secure storage facilities located in the United States to improve transparency. If approved by the committee, ARMA would move to a full House vote, then to the Senate. It would require the President's signature to become law.