According to cryptonews, The U.S. House Financial Services Committee has advanced legislation to place the federal Strategic Bitcoin Reserve into law, voting 28-21 on Sept. 16 to report the amended H.R. 8957 favorably.

The House Financial Services Committee’s official markup record lists the American Reserve Modernization Act of 2026 among the measures considered Wednesday and identifies a substitute amendment from Rep. Bryan Steil of Wisconsin. The substitute was adopted by voice vote before the committee approved the amended bill in recorded vote FC-317.

Introduced on May 21 by Rep. Nick Begich of Alaska with Rep. Jared Golden of Maine as co-lead, ARMA would create a statutory Strategic Bitcoin Reserve and a separate Digital Asset Stockpile inside the Treasury Department. Begich’s office said at introduction that the measure was designed to centralize federal digital-asset custody and require government accounting of the assets.

BREAKING: US House postpones committee vote on Strategic Bitcoin Reserve bill

The Financial Services Committee had been scheduled to consider H.R. 8957 today, but the markup has been delayed, pushing back the next step for legislation that would establish a federal Strategic… https://t.co/JpbTGG0GjR

— crypto news (@cryptodotnews) September 16, 2026

Under the committee substitute published by the House, the Treasury secretary would establish the Strategic Bitcoin Reserve for qualifying federal Bitcoin and a separate stockpile for qualifying non-Bitcoin digital assets. The reserve would cover Bitcoin that has been finally forfeited through criminal or civil proceedings or obtained through certain civil penalties, subject to existing legal claims and forfeiture requirements.

Bitcoin deposited into the reserve would have to remain there for at least 20 years from enactment. During that period, the bill says the assets could not be sold, swapped, auctioned, encumbered or otherwise disposed of. Two years before the holding period ends, Treasury would have to send Congress recommendations on whether the government should continue holding the assets or permit a controlled release.

After the 20-year period, the Treasury secretary could recommend selling up to 10% of reserve assets during any two-year period. The bill directs Treasury to consider the national deficit, Bitcoin’s long-term viability, possible market effects and the federal government’s financial position when making such recommendations.

Within one year of enactment, Treasury would separately study conditions under which Congress might permit sales before the 20-year period expires, including circumstances involving national security or financial stability. The amended language calls for legislative recommendations rather than giving Treasury an automatic exception.

Rep. Begich has argued that government Bitcoin should not “languish in fragmented and inconsistent custody.” House Financial Services Chairman French Hill described the measure during Wednesday’s markup as bringing federally held assets under “Treasury custody and consistent oversight.” Those statements represent the lawmakers’ stated rationale for the legislation.

The version advanced Wednesday differs from the original H.R. 8957 in several areas. Earlier text called for quarterly public proof-of-reserve reports, which was reflected in crypto.news coverage when ARMA was introduced.

Steil’s adopted substitute changes that schedule. Treasury would publish an annual report giving details on reserve holdings, transactions and control of private keys. An independent third-party auditor with cryptographic-attestation expertise would verify the report, while the U.S. Comptroller General would conduct continuing oversight.

Federal agencies would face separate accounting requirements. Within 60 days of enactment, and annually afterward, agency heads would have to provide Treasury with a complete accounting of Bitcoin and other digital assets they hold, have seized or otherwise control.

Before the reserve and stockpile are formally established, agencies would transfer qualifying assets to Treasury where practicable and consistent with existing law. Once the structures exist, qualifying holdings remaining elsewhere would have to be transferred within 30 days using custody procedures intended to preserve traceability and auditability.

The bill preserves exceptions tied to existing forfeiture law. During the interim custody period, qualifying Bitcoin or other qualifying digital assets generally could not be sold or encumbered, except when required by law, ordered by a court, needed for national security or returned to identifiable crime victims.

H.R. 8957 now awaits further House action.

The committee adopted Steil’s replacement text by voice vote and rejected a separate amendment offered by Ranking Member Maxine Waters by 21-28 before voting 28-21 to report H.R. 8957 favorably as amended. The committee proceeding identifies the final vote as FC-317.

Committee approval is not passage by the House. H.R. 8957 still requires consideration and approval by the full House, passage by the Senate in identical form, and the president’s signature before its provisions could take effect. No full-House passage had occurred in the official records reviewed on Sept. 17.

If enacted in its current committee-approved form, Treasury would face several statutory deadlines: a 60-day federal asset accounting, establishment of the reserve and stockpile within 180 days, a 180-day budget-neutral acquisition study, and creation of the voluntary state custody program within one year.

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