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Charles Schwab said a U.S. House Financial Services Committee vote advancing a strategic Bitcoin reserve bill could mark an important first step toward establishing a legal framework, Bitcoin Magazine reported. On Sept. 16, the committee passed the Reserve Modernization Act (H.R. 8957), which would formalize a strategic Bitcoin reserve, by a 28-21 vote.
The bill would place Bitcoin obtained by the federal government through seizures and similar means into a strategic reserve managed by the Treasury Department. To become law, the measure must still pass the full House and the Senate before being signed by President Donald Trump.