House panel advances bill to codify Trump's Strategic Bitcoin Reserve

September 17, 2026 at 05:56 AM1 min

This digest was compiled by AI from multiple sources — links to the originals are below.

The House Financial Services Committee advanced the American Reserve Modernization Act, directing the Treasury to maintain a secure Bitcoin storage facility. The bill codifies President Trump's plan for permanent bitcoin holdings funded by forfeitures and budget-neutral acquisitions. The panel vote occurred despite Democratic concerns over bitcoin's volatility.

Key Facts

The House Financial Services Committee voted Wednesday to advance the American Reserve Modernization Act, a 19-page bill directing the Treasury to maintain a secure Bitcoin storage facility.
Rep. Bryan Steil, R-Wis., said the bill is a smart financial strategy that will increase reserve strength while reducing the deficit.
The legislation includes language for acquiring more bitcoin over five years using budget-neutral strategies and directs the Treasury to create a digital asset stockpile for other digital assets.
Rep. Bill Foster, D-Ill., voiced concerns that bitcoin is not a good investment due to its riskiness and volatility.

Committee Vote

The House Financial Services Committee advanced the American Reserve Modernization Act on Wednesday. The 19-page bill directs the Treasury Department to maintain a secure Bitcoin storage facility. Rep. Bryan Steil, R-Wis., called the bill a smart financial strategy that will increase reserve strength while reducing the deficit. Rep. Bill Foster, D-Ill., opposed the bill, saying bitcoin is not critical to the U.S. economy and is too volatile.

Legislative History

Republicans Rep. Nick Begich and Sen. Cynthia Lummis introduced the bill over a year ago as the BITCOIN Act. The legislation includes language for acquiring more bitcoin over five years using budget-neutral strategies. It also directs the Treasury to create a digital asset stockpile for other digital assets. President Trump laid out his plan for the reserve in 2025, funded mainly through bitcoin already owned by the government through criminal or civil forfeitures.