The U.S. House Financial Services Committee has scheduled a markup of legislation that would put the federal Strategic Bitcoin Reserve into law and require government-held Bitcoin to remain in the reserve for at least 20 years.
- The House Financial Services Committee is set to consider H.R. 8957 on Sept. 16, moving the Strategic Bitcoin Reserve bill toward a committee vote.
- The bill would require Treasury to establish a Strategic Bitcoin Reserve and a separate stockpile for non Bitcoin digital assets held by the federal government.
- Bitcoin deposited into the reserve would generally have to remain there for at least 20 years, with quarterly proof of reserve reports required from Treasury.
- Treasury and Commerce would study budget neutral ways to acquire more Bitcoin without new taxes, borrowing or deficit spending.
The House Financial Services Committee has set its markup of various measures for Sept. 16 at 10:00 a.m. ET in the Rayburn House Office Building, putting H.R. 8957, the American Reserve Modernization Act of 2026, in position for committee consideration.
Introduced by Republican Rep. Nick Begich of Alaska in May, the bill has Democratic Rep. Jared Golden of Maine among its cosponsors and would establish two separate structures within the Treasury Department for federal crypto holdings. The bill was referred to the House Financial Services Committee after its introduction.
The committee’s official calendar confirms a full committee markup for Wednesday, though the public event page lists it under the general title “Markup of Various Measures.”
Strategic Bitcoin Reserve bill would lock BTC for 20 years
H.R. 8957 would require the Treasury secretary to create a secure storage facility called the Strategic Bitcoin Reserve within 180 days of enactment. A separate Digital Asset Stockpile would handle non-Bitcoin crypto assets held by the federal government.
All “qualifying Bitcoin” acquired by the government would be placed in the Bitcoin reserve. The legislation defines qualifying Bitcoin as BTC finally forfeited through criminal or civil asset forfeiture proceedings, or received in satisfaction of certain civil monetary penalties, subject to requirements under existing federal law.
Non-Bitcoin assets would go into the separate stockpile, where the Treasury secretary would have discretion to sell, exchange or convert them. Proceeds could only be used to increase the Strategic Bitcoin Reserve’s holdings or reduce the national debt.
The legislation would impose a long holding period on Bitcoin deposited into the reserve. Existing BTC placed into the reserve would have to remain there for at least 20 years from enactment, while Bitcoin acquired later would face a 20-year minimum period from the date it enters the reserve. During that period, the assets could not be sold, swapped, auctioned, encumbered or otherwise disposed of.
Crypto.news previously reported in May that the 20-year rule was one of the central provisions of Begich’s proposal, alongside protections for Americans’ rights to own, transfer and self-custody digital assets.
Two years before the minimum holding period ends, the Treasury secretary would have to give Congress recommendations on whether the government should continue holding its Bitcoin or permit a gradual release. Once the holding period expires, the secretary could recommend selling up to 10% of the reserve during any two-year period.
Bill sets out public proof of reserve requirements
Federal Bitcoin holdings would face a new disclosure regime if H.R. 8957 becomes law.
The Treasury secretary would be required to establish an ongoing proof-of-reserve system using public cryptographic attestations. Quarterly reports would disclose total holdings and transactions while demonstrating control of private keys tied to the reserve.
Those reports would have to be published on an official Treasury website and reviewed by an independent third-party auditor with expertise in cryptographic attestations. The Comptroller General would oversee the reserve, its quarterly reporting and the audits.
Federal agencies would meanwhile have 60 days after enactment to provide Treasury with a complete accounting of Bitcoin and other digital assets they hold, have seized or otherwise control. Until the two federal stockpiles become operational, agencies would retain custody of their holdings but generally could not dispose of Bitcoin, with exceptions for national security, court orders and returning assets to identifiable crime victims.
Once Treasury certifies the reserve and stockpile as operational and capable of secure custody, federal agencies would have 30 days to transfer their applicable crypto holdings. The transfers would be conducted under Treasury procedures designed to provide traceability and auditability.
President Donald Trump had already established a Strategic Bitcoin Reserve through an executive order in March 2025. An August explainer on government BTC holdings detailed how the federal framework was initially designed around Bitcoin obtained through government seizures rather than an open-market purchasing program.
Treasury would study budget-neutral Bitcoin purchases
H.R. 8957 stops short of ordering the government to buy a fixed amount of Bitcoin.
Instead, Treasury and the Department of Commerce would have 180 days after enactment to jointly study the risks, costs and potential benefits of acquiring more BTC over the following five years without increasing the national debt.
Potential mechanisms listed in the bill include converting assets from the Digital Asset Stockpile, using discretionary surplus remittances from Federal Reserve Banks, revaluing gold certificates held by Federal Reserve Banks, and receiving Bitcoin through forfeitures, penalties or settlements.
The study would examine other possible sources such as tax payments, tariff revenue, voluntary contributions, gifts and cooperative programs involving states, private entities or international partners. Any mechanism classified as budget neutral could not require new appropriations, impose net costs on taxpayers or increase the national debt.
The legislation explicitly states that the study does not authorize borrowing, new taxation or deficit spending to acquire Bitcoin.
That structure differs from Senator Cynthia Lummis’s BITCOIN Act, which proposed acquiring 1 million BTC over five years. A June review of the competing proposals described the House legislation as a more measured route that removed a fixed Bitcoin purchase target while retaining the long-term holding requirement.
States could place Bitcoin in segregated federal accounts
The proposal extends the reserve structure to state governments without requiring them to participate.
Treasury would establish a voluntary program allowing states to place their Bitcoin holdings in segregated accounts within the Strategic Bitcoin Reserve. Participating states would retain title to their Bitcoin and to digital assets generated through related forks or airdrops.
Each state would enter into an agreement with Treasury covering security protocols, access controls and responsibility for the assets. States could withdraw or transfer holdings subject to the agreement and applicable federal regulations, while accepting the risks associated with digital asset custody.
The federal effort has developed alongside state-level reserve programs. Texas, for example, has been working toward direct Bitcoin custody after initially gaining exposure through BlackRock’s iShares Bitcoin Trust.
H.R. 8957 would separately protect private ownership by stating that the legislation cannot be used to authorize federal seizure or confiscation of lawfully acquired Bitcoin. It affirms the rights of individuals, businesses and organizations to legally purchase, hold, transfer or dispose of Bitcoin and other digital assets, including the ability to maintain self-custody of private keys.
