U.S. House Financial Services Committee Moves Bitcoin Reserve Bill Forward, Sets 20-Year Hold Requirement
AI Market Summary
A U.S. House Financial Services Committee vote advancing H.R. 8957 raises the probability of a formalized federal strategic Bitcoin and digital-asset reserve framework. The proposed 20-year holding restriction on government-held BTC, plus mandated proof-of-reserves reporting and key-control disclosures, could reduce perceived policy overhang from potential government sales while improving transparency. Passage still requires House/Senate approval and presidential signature, limiting immediacy.
Impact level
● High
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BTC/USDT+1.02%
AI Insight · BTC/USDTAI Insight
▲ Bullish
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According to Odaily Planet Daily, the U.S. House Committee on Financial Services on Sept. 16 approved a revised version of H.R. 8957, the U.S. Reserve Modernization Act, by a 28-21 vote. The measure would codify a federal strategic Bitcoin reserve and a broader digital asset reserve program.
Under the bill, any Bitcoin lawfully held by the federal government that is not otherwise required for a statutory purpose would have to be retained for at least 20 years from the law's effective date. During that period, the assets could not be sold, exchanged, auctioned, pledged, or otherwise disposed of.
The legislation must still pass the full House and Senate and be signed by Trump. It also directs the U.S. Treasury to establish the reserve within 180 days of enactment and to publish annual proof-of-reserve reports detailing holdings, transactions and private-key control.
In addition, the Treasury and the Department of Commerce would study lawful, budget-neutral ways to increase Bitcoin holdings, though the language does not authorize direct purchases. (Bitcoin.com News)
