The House Financial Services Committee voted 28-21 to favorably report the American Reserve Modernization Act (H.R. 8957). All Republican votes supported the bill while all Democratic votes opposed it. The legislation requires Treasury to establish a Strategic Bitcoin Reserve and a Digital Asset Stockpile within 180 days, prohibiting any sale, swap, auction or disposal of Bitcoin for 20 years once deposited. The adopted version removes mechanisms for purchasing additional Bitcoin using Federal Reserve remittances or tariff revenue, and relaxes reporting requirements by shifting from quarterly to annual proof-of-reserve reports. The bill must still pass the full House, with no companion measure having passed the Senate.
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