The House Financial Services Committee will examine legislation that could turn the US Strategic Bitcoin Reserve from a presidential policy into a statutory program.
The committee markup begins at 14:00 UTC on September 16. H.R. 8957, the American Reserve Modernization Act, is one of nine measures on the agenda, and the chairman will determine their order. Members can amend the proposed substitute before deciding whether to send the bill to the full House.
The committee is testing whether Trump’s reserve can outlast his order
President Donald Trump created the Strategic Bitcoin Reserve by executive order in March 2025. The order directed the government to retain eligible forfeited Bitcoin, establish a separate stockpile for other digital assets and explore budget-neutral ways to acquire more BTC.
H.R. 8957 would convert that executive policy and its management rules into a statutory framework. A future president could replace the executive order, but could not cancel a federal law without action from Congress.
What today’s markup will not decide
- It will not order an immediate Bitcoin purchase.
- It will not establish a one-million-BTC target.
- Committee approval would not enact the bill.
Treasury would have 180 days to formalize the two structures
Under the proposed substitute, federal agencies would have 60 days after enactment to give Treasury a complete accounting of the Bitcoin and other digital assets they hold, have seized or control through another legal authority.
Treasury would then have 180 days to establish two separate structures: the Strategic Bitcoin Reserve for qualifying BTC and the Digital Asset Stockpile for qualifying non-Bitcoin assets. Agencies would transfer eligible holdings within 30 days after those structures were established.
“Qualifying” is an important limitation. The reserve would not automatically absorb every asset temporarily held by law enforcement. Bitcoin or other assets required to satisfy forfeiture laws, court orders or victim claims would remain available for those purposes.
Bitcoin would be locked away while other assets could be sold
The two structures would follow different rules. Bitcoin deposited into the reserve could not be sold, swapped, auctioned, pledged or otherwise disposed of for at least 20 years. Two years before that period ended, Treasury would have to advise Congress on whether the government should continue holding it or allow a controlled release.
After the holding period, Treasury could recommend selling up to 10% of the reserve during any two-year period. A permitted sale would require a formal rule designed to provide transparency and limit market disruption.
Treasury would have more flexibility with non-Bitcoin assets. It could sell or exchange them through a published process, use the proceeds to cover the cost of managing both structures and direct any excess toward reducing the national debt. Non-Bitcoin assets obtained through forks or airdrops would generally be held for one year before disposal could be considered.
The bill’s findings cite Bitcoin’s finite supply as part of the case for treating it differently from other digital assets. Coindoo’s guide to the Bitcoin halving explains how declining issuance moves the network toward its fixed limit of 21 million BTC.
The acquisition section orders a study, not a buying program
The substitute would direct the Treasury and Commerce departments to study additional Bitcoin acquisitions within 180 days of enactment. They would examine the costs, risks and potential benefits of lawful methods that would not create a net cost for taxpayers.
Possible methods include receiving Bitcoin through forfeitures and settlements, working with states or private entities, and using non-Bitcoin assets from the government stockpile. Directing officials to study those routes would not authorize Treasury to use them.
The text contains no one-million-BTC target and no instruction to buy Bitcoin on an exchange. It also says the study cannot be treated as authority for new taxes, deficit spending, government borrowing or using public assets as collateral. Any acquisition program would need separate legal authority.
Annual proof of reserve would have to demonstrate key control
Treasury would establish a public cryptographic proof-of-reserve system covering the government’s Bitcoin holdings, transactions and control of the relevant private keys. An independent auditor with cryptographic expertise would verify the annual report, while the Comptroller General would oversee compliance.
The reporting frequency is one detail to watch. The introduced version of H.R. 8957 required quarterly reports, but the substitute prepared for the markup changes that requirement to annual reporting.
A committee win would still leave the bill far from enactment
If the Financial Services Committee reports H.R. 8957 favourably, the measure could proceed to the House floor. It would still need approval from the full House, passage through the Senate and the president’s signature. The two chambers would also need to resolve any differences between their versions.
The Senate’s recent CLARITY Act procedural vote illustrates the difference between advancing legislation and approving it. That vote stopped the CLARITY Act from moving forward without deciding every provision on its merits. H.R. 8957 is at an earlier stage: its first full committee consideration.
Five points to monitor as the committee edits the bill
- Whether the committee adopts the proposed substitute.
- Whether the 20-year holding period remains intact.
- Whether an amendment adds purchase authority beyond the study.
- Whether lawmakers restore the original quarterly reporting schedule.
- Whether the committee sends the bill to the full House.
If the committee reports H.R. 8957 favourably, the reserve would move one step closer to receiving statutory protection. The next test would be whether its 20-year holding rule, acquisition limits and disclosure requirements can survive votes in both chambers.
This article is provided for informational purposes only and does not constitute legal, financial or investment advice. The proposed substitute may be amended during the committee markup.
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP.
Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem.
To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem.
His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
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