Key facts
- The US House Financial Services Committee will mark up the Strategic Bitcoin Reserve bill on September 16.
- The bill, H.R. 8957, proposes establishing a federal reserve for approved Bitcoin.
- Agencies must account for their digital assets within 60 days of the bill's enactment.
- Bitcoin deposited into the reserve would have a 20-year minimum holding period.
- Treasury Secretary Scott Bessent confirmed the Trump administration is working on a Strategic Bitcoin Reserve.
The U.S. House Financial Services Committee is scheduled to mark up the Strategic Bitcoin Reserve bill, H.R. 8957, on Wednesday, September 16. The bill, introduced by Representatives Nicholas Begich and Jared Golden, aims to establish a federal reserve for approved Bitcoin holdings and requires federal agencies to account for their digital assets within 60 days of enactment. Once operational, these holdings would be transferred to the Treasury within 30 days. A key provision of the bill is a 20-year minimum holding period for Bitcoin deposited into the reserve, during which the assets cannot be sold, swapped, or auctioned. The committee will consider this alongside eight other bills, with markups beginning at 10:00 a.m. ET in Room 2128 of the Rayburn House Office Building.
This legislative push follows a June statement by Treasury Secretary Scott Bessent, who indicated that the Trump administration is actively working on its own Strategic Bitcoin Reserve proposal, framing it as crucial for national economic security. Bessent described the initiative as navigating new territory with new technology, emphasizing a measured approach with "all deliberate speed." The bill also mandates that the Treasury make public quarterly Proof of Reserve reports, verified by an independent auditor and monitored by the Comptroller General, detailing holdings, transactions, and control of private keys.