The U.S. Reserve Modernization Act Passes House Committee on Financial Services

The House Financial Services Committee passed H.R. 8957, the "American Reserve Modernization Act," introduced by Rep. Nick Begich, with a vote of 28-21. The bill would establish the legal status of a "Strategic Bitcoin Reserve," mandate that Bitcoin held by the federal government be custodied by the Department of the Treasury, and require a minimum holding period of 20 years. The legislation has been referred to the full House for consideration, but no floor vote has been scheduled.