US Appropriations Bill Directs Treasury to Report on Strategic Bitcoin Reserve

The legislation, led by Rep. David Joyce, mandates a 90-day Treasury report on establishing a federal Bitcoin reserve, assessing custody, accounting, cybersecurity, and national security implications amid growing global adoption.

BTC

191d ago

Fact Check

A bill summary for the FY26 Financial Services and General Government Appropriations Bill, published on the House Appropriations Committee website, directly states that the bill 'Requires the Secretary of the Treasury to submit a report to Congress on the Strategic. Bitcoin Reserve and the digital asset stockpile'.

Summary

The U.S. House Appropriations Committee advanced H.R. 5166, requiring the Treasury Department to deliver a comprehensive report on the Strategic Bitcoin Reserve and broader digital asset holdings within 90 days of enactment. Introduced by Rep. David Joyce, the bill directs Treasury to evaluate the feasibility, custody, accounting, and security of retaining seized cryptocurrencies, currently totaling around 198,000–207,000 BTC. The legislation also mandates a joint classified cybersecurity assessment with the NSA and addresses impacts on the Treasury Forfeiture Fund. It prohibits funding for a U.S. CBDC. The measure now awaits a House floor vote, with broader budget negotiations influencing its outcome. Globally, governments hold more than 517,000 BTC, with El Salvador, Kazakhstan, the Philippines, and Brazil pursuing national crypto reserve initiatives.

Terms & Concepts

Strategic Bitcoin Reserve: A proposed reserve of Bitcoin held by the U.S. government as part of its financial strategy.
Treasury Forfeiture Fund: A U.S. Treasury fund that manages proceeds from asset forfeitures, which could be affected by Bitcoin reserve policies.
CBDC (Central Bank Digital Currency): A digital form of fiat currency issued by a central bank, distinct from decentralized cryptocurrencies like Bitcoin.