U.S. House Advances Bitcoin Reserve Bill with 20-Year Holding Period

On September 16, the U.S. House Financial Services Committee passed the amended H.R. 8957, the U.S. Reserve Modernization Act, with a vote of 28 to 21. This bill incorporates the U.S. strategic Bitcoin reserve and digital asset reserve program into federal law. The bill stipulates that Bitcoin legally held by the federal government, with no other statutory use, must be held for at least 20 years from the effective date of the bill, during which it cannot be sold, exchanged, auctioned, pledged, or otherwise disposed of. The bill must be passed by the House, the Senate, and signed by Trump. Additionally, the bill requires the Treasury Department to establish the relevant reserves within 180 days of its enactment and to publish an annual reserve proof report covering holdings, transactions, and private key control. The Treasury and Commerce Departments will explore legal and budget-neutral ways to increase Bitcoin holdings, but this provision does not authorize direct purchases.

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