US House Committee Advances Bitcoin Reserve Bill with 28-21 Vote

The US House Financial Services Committee advanced the Strategic Bitcoin Reserve Act (ARMA, H.R.8957) with a 28-21 vote on Thursday (local time). The bill aims to codify federal bitcoin reserves into law, moving it to the next procedural step. BeInCrypto reported that the committee passed the measure, while the House Ways and Means Committee also processed a separate digital asset tax bill 38-5.

The ARMA requires the Treasury Department to maintain a secure bitcoin storage system. The Senate failed to conclude a cloture vote on the Clarity Act one day earlier.