House Financial Services Committee Set to Vote on Bitcoin Reserve Bill ARMA
The House Financial Services Committee is scheduled to hold a pivotal markup session on Wednesday, September 16 at 10:00 a.m. ET to vote on the American Reserve Modernization Act (ARMA) of 2026, designated as H.R. 8957. The bipartisan legislation, introduced in late May by Republican Representative Nick Begich and Democratic co-sponsor Representative Jared Golden, proposes establishing a strategic national Bitcoin reserve alongside a broader digital asset stockpile.
Key Provisions of the ARMA Legislation
The bill outlines several core mandates designed to govern the acquisition, storage, and potential use of digital assets by the federal government:
20-Year Lockup Period for Bitcoin
A central feature of the legislation is a mandatory 20-year holding period for any Bitcoin acquired for the national reserve. During this timeframe, the government would be prohibited from trading or selling the asset. The sole exception allows for liquidation only if the proceeds are used exclusively to retire outstanding federal debt.
Redirecting Seized Bitcoin to the Reserve
The Act mandates that all Bitcoin obtained through criminal seizures or penalties must be transferred directly to the national Bitcoin reserve. This provision effectively ends the current practice of auctioning off forfeited digital assets.
Creation of a Digital Asset Stockpile
Reflecting the legislation’s renamed scope, ARMA establishes a “Digital Asset Stockpile” for holding altcoins classified as assets. The government would be authorized to sell or trade these alternative digital assets for Bitcoin, or liquidate them to pay down the national debt.
Strict Budget Neutrality and Acquisition Strategy
The proposal enforces budget neutrality, stipulating zero net cost for acquiring Bitcoin. It explicitly bans purchases funded by debt issuance, new taxes, or deficit spending. Instead, the Department of the Treasury and the Department of Commerce are tasked with developing a plan to accumulate 1 million BTC over a five-year period using surplus dollars or a portion of net earnings from Federal Reserve banks.
Decentralized Storage and Audit Requirements
To ensure security and transparency, the bill requires a decentralized network of secure physical storage facilities distributed across the country. Third-party contractors would conduct quarterly audits of the reserves.
Legislative Path Forward
If the bill clears the committee markup, it will advance to the full House of Representatives for a floor vote. Subsequent passage would send the legislation to the Senate for consideration, followed by the President’s desk for signature into law.
