US lawmakers advance bill to lock Trump’s Bitcoin reserve into law

US lawmakers took a step on Wednesday to put US President Donald Trump’s executive order to establish a strategic Bitcoin reserve into law. The American Reserve Modernization Act of 2026 (H.R. 8957) passed the US House Committee on Financial Services in a 28-21 vote. The bill would establish a Strategic Bitcoin Reserve and a separate Digital Asset Stockpile within the Department of the Treasury for federally held Bitcoin and other digital assets acquired through criminal or civil forfeiture.“We cannot allow Bitcoin to be held by the federal government to languish in fragmented and inconsistent custody,” said US Representative Nicholas Begich, who introduced the bill on May 21. “It poses unacceptable cybersecurity risks and fails to give an adequate accounting of what the federal government actually owns.” The move brings Washington closer to making Bitcoin a lasting part of the federal government’s reserves.Related: CLARITY Act vote meets Fed rate hike: Five things to know in Bitcoin this weekThe US government is estimated to hold 324,527 Bitcoin, worth $24.7 billion at the time of writing, according to Arkham Intelligence. Under ARMA, Bitcoin in the federal government’s reserve wo...