US House Committee to Review Bill on Holding Seized Bitcoin as Strategic Reserve

The US government is set to review legislation that would treat Bitcoin acquired through criminal investigations and other means as a long-term strategic asset. The proposed bill, the 'American Reserve Modernization Act' (H.R.8957), has shifted from earlier plans that called for the government to directly purchase 1 million BTC, instead opting to prevent the sale of already-held Bitcoin and establish management protocols. The House Financial Services Committee will hold a full meeting on Wednesday at 10 AM local time to examine the bill.