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House Financial Services Committee is scheduled to mark up the American Reserve Modernization Act today.
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The Strategic <a href="https://xpertsstudio.com/crypto-overview-bitcoin-falls-to-75000-as-clarity-act-fails-to-advance/” title=”Crypto Overview: Bitcoin falls to $75,000 as CLARITY Act fails to advance”>Bitcoin Reserve bill require US Treasury to establish a Strategic Bitcoin Reserve and Digital Asset Stockpile for other crypto.
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The House committee will also look at Representative Bryan Steil’s amendment to the bill.
The US House’s Strategic Bitcoin Reserve bill is in focus today after the CLARITY Act fails to pass in the Senate. A House committee will debate the crypto bill, consider amendments, and vote on whether to advance the bill to the full House of Representatives.
Will House Financial Services Committee Clear Strategic Bitcoin Reserve Bill Today?
The House Financial Services Committee is scheduled to mark up the American Reserve Modernization Act (H.R. 8957) at 10:00 AM on September 16. The committee will also markup 8 other legislative bills. This is the first full committee vote to advance the Strategic Bitcoin Reserve into federal statute.
American Reserve Modernization Act of 2026 aims to establish a Strategic Bitcoin Reserve and other programs to ensure the transparent management of Bitcoin holdings by the US government. It will also help offset costs by using certain Federal Reserve System res Nicholas Begich and Jared Golden on May 21
This comes in response to President Trump’s executive order to establish a Strategic Bitcoin Reserve. The bill requires the U.S. Treasury Department to establish a Strategic Bitcoin Reserve within 180 days of its enactment and a separate Digital Asset Stockpile for crypto assets such as Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA).
Other key aspects of the Strategic Bitcoin Reserve bill include transfer of seized and forfeited BTC to the reserve, locking up Bitcoin for 20 years, and requiring quarterly proof-of-reserve reporting.
Key Changes in Steil Amendment
Bryan Steil, Chairman of the Financial Services Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence, filed an amendment in the nature of a substitute. If adopted today, it would replace the entire Begich text and insert minor changes to the Strategic Bitcoin Reserve bill.
The major changes include starting a 20-year lock-in from the date of enactment for all Bitcoin deposited in the reserve, not from each deposit. Treasury Secretary must report proof-of-reserve annually and assets received from forks or airdrops can’t be sold for one year as compared to five years in the original bill. Treasury Secretary Scott Bessent earlier urged advancing the bill.
Source: finance.yahoo.com