The U.S. House Financial Services Committee has included a strategic Bitcoin reserve bill on the agenda for September 16. If the bill continues to progress, the federal-level Bitcoin reserve arrangements in the United States will shift from presidential executive orders to a more binding legislative framework.
The bill requires the establishment of a federal Bitcoin reserve.
According to the agenda, the committee will review H.R.8957, namely the "2026 U.S. Reserve Modernization Act." The act requires the Treasury Department to establish a "strategic Bitcoin reserve" within 180 days after it takes effect, and to set up a separate inventory for non-Bitcoin digital assets held by the government.
The bill stipulates that Bitcoin acquired by the federal government through criminal or civil confiscation procedures, as well as Bitcoin received in the form of certain civil fines, will be included in this reserve. Non-Bitcoin assets will go into another set of inventories, and it will be up to the Treasury Department to decide whether to sell, exchange, or convert them.
The proceeds from related measures can only be used for two purposes: one is to increase strategic Bitcoin reserves, and the other is to reduce the scale of U.S. government debt.
The government holds BTC for a minimum of 20 years.
One of the core provisions of the bill is to impose a long-term holding requirement on Bitcoin that is included in the reserve. Existing Bitcoin cannot be disposed of for at least 20 years from the date the bill takes effect; for Bitcoin that is subsequently transferred into the reserve, a 20-year lock-up period will be calculated from the date of its inclusion in the reserve.
During this period, these bitcoins in principle shall not be sold, exchanged, auctioned, used as collateral, or disposed of in any other manner. In contrast, there is more flexibility in dealing with non-bitcoin digital assets, and the Ministry of Finance has greater discretionary power.
The Ministry of Finance is required to disclose reserve certificates on a quarterly basis.
The bill also establishes a public disclosure system for federal Bitcoin holdings. The Secretary of the Treasury is required to establish a continuous reserve certification mechanism, using public cryptographic verification methods to disclose the total holdings and transaction details on a quarterly basis, and to prove that the government controls the private keys related to these reserves.
These quarterly reports must be published on the official website of the Ministry of Finance and subjected to independent third-party audits with experience in cryptographic verification. The head of the U.S. government accountability agency will also oversee the reserves, quarterly reports, and audit processes.
At the enforcement level, federal agencies are required to fully declare to the Treasury Department any Bitcoin and other digital assets they hold, seize, or control within 60 days after the act comes into effect. Before the reserve system is officially put into operation, agencies may continue to hold these assets temporarily, but in principle, they are not allowed to dispose of Bitcoin, except in cases involving national security, court orders, or the return of identified victims.
After the Ministry of Finance confirms that the reserve facilities and digital asset inventories have the capability for secure custody, all institutions must complete the asset transfer within 30 days and maintain traceable and auditable records in accordance with the procedures set by the Ministry of Finance.
Without setting a fixed buying target, first study the path for increasing holdings.
Unlike some more radical proposals, this House of Representatives bill does not directly require the government to buy a fixed amount of Bitcoin on the open market. It requires the Treasury Department and the Department of Commerce to jointly study the risks, costs, and potential benefits of increasing Bitcoin holdings over the next five years without increasing national debt, within 180 days after the bill takes effect.
The research directions listed in the bill include: converting assets from non-Bitcoin digital asset portfolios into Bitcoin, utilizing surplus remittances that are freely disposable by the Federal Reserve banks, reevaluating the gold certificates held by the Federal Reserve banks, and obtaining more Bitcoin through confiscation, fines, or settlements.
The scope of the study also includes tax payments, customs revenues, voluntary donations, as well as cooperation with state governments, private institutions, or international partners. However, the bill clearly states that the so-called 'budget-neutral' mechanism must not rely on additional appropriations, must not increase the cost to taxpayers, and must not raise national debt.
State governments may voluntarily participate in the hosting arrangements.
The bill also reserves a voluntary participation mechanism for state governments. The Treasury Department will establish an optional program that will allow states to deposit their own holdings of Bitcoin into segregated accounts within the federal strategic Bitcoin reserve.
The participating states still retain ownership of the relevant Bitcoin, as well as the rights to any digital assets generated by forks or airdrops. Each state must sign an agreement with the Treasury Department to clarify security standards, access rights, and asset responsibilities, and may withdraw or transfer assets in accordance with the agreement and federal regulations.
In addition, the bill stipulates that it is not permissible to confiscate or levy Bitcoin that has been legally obtained based on this law. The rights of individuals, enterprises, and organizations to purchase, hold, transfer, or dispose of Bitcoin and other digital assets in accordance with the law, as well as the right to self-manage private keys, are also included in the provisions.
