The U.S. House Financial Services Committee passed a strategic reserve bill that would bar the federal government from selling or transferring Bitcoin it holds for 20 years.

Coinpost, a blockchain media outlet, reported on Sept. 17 local time that the vote cleared the committee stage and still must go through a full House vote and Senate deliberation.

Republican members said the House Financial Services Committee advanced H.R.8957 by 28 to 21. The bill, called the American Reserve Modernization Act, or ARMA, would define a Bitcoin strategic reserve under federal law. The core provision would bar sales and transfers for 20 years for government-held Bitcoin managed by the Treasury Department that was obtained through seizures and similar means.

If enacted, the Treasury Department would have to overhaul its custody system within 180 days. It would also be required to conduct an audit through an independent third party and file an attestation report. The bill aims to place government-held Bitcoin under an institutional management framework rather than simply holding it.

The bill largely seeks to turn an executive order issued by U.S. President Donald Trump (도널드 트럼프) in March 2025 into law. An executive order can be rescinded by a future administration, but once it is enacted as law, repeal or changes would require a congressional vote. It can be seen as a device to keep a federal-level Bitcoin reserve plan in place regardless of changes in government.

The bill is less stringent than separate legislation discussed in the Senate. The House bill does not require new government purchases of Bitcoin. By contrast, another bill previously introduced by Senator Cynthia Lummis would have the Treasury buy 200,000 BTC each year to secure a total of 1 million BTC over 5 years. The two bills address the same strategic reserve debate but point in different directions.

The legislative path remains uncertain. The bill will move to the full House after clearing committee, but no schedule has been set for a vote as the House could go into recess around Sept. 17 ahead of November midterm elections. Even if it clears the House, it must still go through Senate deliberations, and legislation is expected to take more time.

The market is also focusing on whether the bill could lead to disclosure of the federal government's Bitcoin holdings, along with its practical impact. If the bill is enacted, the Treasury could disclose the amount of government-held Bitcoin for the first time after an independent audit. Federal holdings are estimated at about 198,000 BTC, but they have never been confirmed by an official audit.

The key points to watch going forward narrow to 2 questions: whether the full House vote is actually scheduled, and what relationship it will have with the large-scale purchase bill being discussed in the Senate. The committee's approval is significant in that the U.S. debate on a Bitcoin reserve has moved beyond declarations to the legislative stage, but additional steps remain before final adoption.