House panel approves ARMA Bitcoin reserve bill, bars sales for 20 years

  • The House Financial Services Committee advanced amended H.R. 8957 by a 28-21 vote.
  • Bitcoin deposited in the proposed reserve would face a minimum 20-year holding period.
  • Treasury would issue annual reserve reports under the committee-approved substitute amendment.

The House Financial Services Committee voted 28-21 on September 16, 2026, to favorably report the American Reserve Modernization Act of 2026, or ARMA, to the full House. H.R. 8957 would place the federal Strategic Bitcoin Reserve and a separate Digital Asset Stockpile within the Treasury Department, drawing qualifying Bitcoin principally from assets finally forfeited through criminal or civil proceedings. The committee adopted a substitute amendment from Representative Bryan Steil by voice vote before approving the bill as amended in recorded vote FC-317. The revision requires Bitcoin in the reserve to be held for at least 20 years from enactment, replaces quarterly proof-of-reserve reporting with annual public reports verified by an independent auditor, and directs Treasury and Commerce to study budget-neutral methods of acquiring additional Bitcoin. It does not authorize borrowing, new taxes, deficit spending or collateralized federal assets for purchases. States could voluntarily place Bitcoin in segregated Treasury reserve accounts while retaining legal title. The bill still requires approval by the full House and Senate and a presidential signature before becoming law.

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