US House Financial Services Committee Passes Bill to Maintain Strategic Bitcoin Reserves

The US government has advanced legislation that would require the Treasury Department to hold seized Bitcoin (BTC) as a long-term strategic asset rather than sell it off. On April 16th (local time), according to CoinTelegraph, the House Financial Services Committee voted 28-21 in favor of the American Reserve Modernization Act (H.R.8957).

The bill mandates that Bitcoin obtained through criminal and civil forfeiture processes be held by the Treasury as a strategic reserve for a minimum of 20 years instead of being sold. This committee approval marks progress toward formalizing strategic Bitcoin reserves, with H.R.8957 now moving to full House consideration.