Washington considers American Reserve Modernization Act to legislate state bitcoins

Washington puts its bitcoin reserve back on the table. The House Financial Services Committee will consider the American Reserve Modernization Act on Wednesday, September 16. This project aims to enshrine in law the management of bitcoins held by the federal state, today governed by a simple presidential decree.

Key Points

The House Financial Services Committee will consider the American Reserve Modernization Act on Wednesday, September 16

The project provides for a reserve of bitcoins and a separate stockpile for other digital assets held by the federal government.

A replacement amendment proposes holding bitcoins in the reserve for at least twenty years and publishing an annual report.

The revaluation of gold certificates, cited as an avenue to study in the initial project, no longer appears in this amendment.

American Reserve Modernization Act: A committee review on September 16

The session will begin at 10 a.m. Washington time, with Republican French Hill presiding. Elected officials will be able to modify the text before deciding to transmit it to the Chamber. Even adopted in committee, it will still have to pass the plenary session, then the Senate, before it can become a law.

Introduced in May by Representative Nick Begich, with Democrat Jared Golden among its early supporters, H.R. 8957 organizes the transfer to the Treasury of bitcoins owned by the federal government and available under the law. It also creates a separate inventory for other digital assets. Agencies will need to establish an inventory of their assets.

A replacement amendment, proposed by Bryan Steil for the September 16 review, incorporates these two structures. It provides for the retention of bitcoins in the reserve for at least twenty years from the adoption of the law. At the end of this period, the Treasury could recommend to Congress the sale of a limited portion of the assets. The amendment also proposes an annual report and an independent audit.

Bitcoin Reserve: The gold trail disappears from the amendment

Donald Trump created the strategic bitcoin reserve by executive order on March 6, 2025. It must receive the BTC permanently confiscated and held by the federal government, subject to applicable legal obligations. The decree prohibits their sale once deposited in the reserve and asks the Treasury and the Commerce Department to study additional budget-neutral acquisitions.

In its first version, the project asked the Treasury to study several ways to obtain more bitcoins without increasing the federal budget. Among them was the possibility of “revaluing certificates linked to American gold reserves”. And although he did not plan to do so immediately, the amendment presented for the September 16 review removes this possibility from the list. The study remains planned, but it now focuses in particular on the use of other cryptocurrencies held by the State and on bitcoins resulting from confiscations.

The exact number of BTC transferable to the reserve does not appear in these texts. Public estimates of U.S. assets are not an official inventory and may include assets intended for return or subject to other obligations.