House Financial Services Committee approves American Reserve Modernization Act in 28"21 vote
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The House Financial Services Committee advanced the American Reserve Modernization Act, proposing to transfer federally forfeited bitcoin into a Treasury Strategic Bitcoin Reserve with a mandated 20-year hold and quarterly proof-of-reserve audits. If enacted, the framework could reduce near-term government BTC supply overhang while improving transparency around official holdings. Legislative uncertainty remains, as the bill still requires passage in the full House and Senate.
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The House Financial Services Committee voted 28"21 to advance the American Reserve Modernization Act. The measure, introduced by Rep. Nicholas Begich, would direct federally forfeited bitcoin into a Treasury Strategic Bitcoin Reserve and mandate a 20-year holding period. Federal agencies would be required to inventory the digital assets under their control and publish quarterly proof-of-reserve audit reports. The bill must still pass the full House and the Senate before it can become law.
