House committee advances bill to write Trump's bitcoin reserve into law
House panel moves a bitcoin reserve bill forward
The House Financial Services Committee voted on Wednesday to advance the American Reserve Modernization Act, a 19-page bill that would direct the Treasury Department to maintain a "secure Bitcoin storage facility."
The bill would put into law President Donald Trump's plan to hold bitcoin permanently on the government's books. The committee acted on September 16, 2026, as part of a session that also moved other bills forward.
Key points from the bill and the vote
- The committee advanced the American Reserve Modernization Act, according to a 19-page bill text cited by The Block.
- The bill would direct the Treasury Department to keep a "secure Bitcoin storage facility."
- It would codify Trump's plan to create permanent government bitcoin holdings.
- The legislation includes language to acquire more bitcoin over five years using what it calls "budget-neutral strategies," and it directs Treasury to create a digital asset stockpile for other digital assets.
- A similar bill has not yet passed in the Senate.
Republicans call it a reserve and deficit strategy
Rep. Bryan Steil, R-Wis., spoke in favor of the bill during the session. "This is a smart financial strategy that will increase our reserve strength while also reducing our deficit," he said. "Digital assets continue to transform the global market. We must modernize our strategic reserves to maintain American dominance and financial stability."
From the BITCOIN Act to the American Reserve Modernization Act
Republicans Rep. Nick Begich and Sen. Cynthia Lummis introduced the bill more than a year ago, when it was named the "Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide Act," or BITCOIN Act.
Trump set out his plan for the reserve early in his presidency in 2025. Under that plan, the reserve would be funded mainly with bitcoin the government already owns through criminal or civil forfeitures, along with a separate digital asset stockpile. The order also directed the Treasury and Commerce Departments to develop budget-neutral ways to acquire bitcoin that would not cost taxpayers.
Opposition and questions about Treasury's role
Rep. Bill Foster, D-Il., opposed the bill and raised concerns that bitcoin is not a good investment because of its riskiness and volatility. "I don't think anyone believes that bitcoin is critical to the U.S. economy," Foster said.
Questions were also raised later over whether Treasury can legally manage the reserve, according to a report by Bloomberg in July.
What is still unclear
The panel's vote moves the bill forward, but it is not law. The source material does not say when or whether the full House will vote, and a similar bill has not passed in the Senate. The question of whether Treasury has the legal authority to manage the reserve has been raised but not resolved in the supplied reporting.
Why this matters
The reserve currently rests on a presidential order. This bill would place the bitcoin holdings and the storage facility into law, so the arrangement would not depend only on an executive order. The bill also sets out a five-year path for adding more bitcoin using strategies it describes as budget-neutral, meaning methods the bill frames as not costing taxpayers.
