🏛️ Updates on U.S. House Bill 8957 (American Reserve Modernization Act)Official Title as Introduced
To establish a Strategic Bitcoin Reserve and other programs to ensure the transparent management of Bitcoin holdings of the Federal Government, to offset costs utilizing certain resources of the Federal Reserve System, and for other purposes.
After being officially introduced as a bipartisan bill, H.R. 8957 is progressing very well, gaining support from 17 to 18 other members of the US House of Representatives who immediately signed the bill as the first wave of supporters. The bill has now passed its first administrative hurdle in the House and has been assigned to the House Committee on Financial Services. Now, the bill is several steps away from a final vote on the House floor before being sent to the Senate.
This bill has received positive support because it has more reasonable points than the Bitcoin Act previously introduced by Senator Cynthia Lummis. It includes points such as:
✅ Ensure the transparent management of Bitcoin holdings of the Federal Government
✅ Requiring all Bitcoin placed in a strategic reserve to be held and not sold for a minimum of 20 years.
✅ Consolidating and securing the federal government's Bitcoin holdings into a single official reserve structure.
✅ Designed to reduce the burden on the federal budget.
H.R. 8957 Progress summary:✅ Introduced in the House (21 May 2026)
✅ Signed by Original Co-Sponsors (Nick Begich, Jared Golden, and 16+ members)
✅ Referred to the House Committee on Financial Services (21 May 2026)
🕒 Pending House Committee Hearing & Vote
🕒 Pending Full House Floor Vote
🕒 Pending Introduction & Pass in the Senate
❌ Not yet signed by the President