Bitcoin Reserve Bill to Be Voted on by US House Financial Services Committee on 16th

The U.S. House Financial Services Committee will review legislation that establishes a strategic Bitcoin reserve for the federal government on June 16. The committee announced in its official schedule that H.R. 8957, titled 'The American Reserve Modernization Act,' has been added to the agenda for a full committee meeting.

The bill proposes creating a separate reserve system within the Treasury Department for holding Bitcoin and other digital assets, requiring federal agencies to report their holdings of Bitcoin and digital assets to the Treasury. It also prohibits the sale or exchange of assets included in the strategic Bitcoin reserve for at least 20 years.