The House Financial Services Committee has scheduled a markup of the American Reserve Modernization Act of 2026 for September 16, 2026. A markup is the committee stage at which members debate, amend, and vote on a bill's text before it can move forward in the legislative process. If approved, the bill would advance to the full House for consideration, marking the most concrete legislative step yet toward making Bitcoin a permanent fixture on the federal balance sheet.

The legislation, known by the acronym ARMA and designated H.R. 8957, was introduced on May 21, 2026, by Rep. Nick Begich (R-AK) and co-led by Rep. Jared Golden (D-ME). It has attracted more than 20 bipartisan co-sponsors. Becoming law would still require passage in both the House and the Senate, followed by the president's signature.

What the Bill Do

At its core, ARMA would consolidate all federally held Bitcoin into a single centralized treasury account. Most of these holdings were acquired by the government through civil and criminal asset forfeitures.

The bill's most striking provision is a mandatory 20-year holding period for all Bitcoin in the reserve. Under the legislation, the government would be barred from selling, trading, or otherwise liquidating these holdings for two decades.

Transparency measures are also built into the proposal. ARMA requires quarterly public Proof-of-Reserve audits, pairing cryptographic attestations with third-party audits. This structure would allow anyone with access to a blockchain explorer to independently verify the government's holdings. The approach mirrors a practice already familiar across the crypto industry, where exchanges publish proof-of-reserve attestations to demonstrate control of the assets in their custody.

The legislation prohibits funding the reserve through new taxes, government borrowing, or deficit spending. The only Bitcoin entering the reserve would come from assets already lawfully seized by federal authorities.

Beyond Bitcoin, the bill establishes a separate Digital Asset Stockpile for non-Bitcoin digital assets held by the federal government. The provision also explicitly reinforces the rights of private digital asset ownership.

From Executive Order to Legislation

ARMA did not emerge from thin air. President Trump signed an executive order on March 6, 2025, establishing the initial framework for a Strategic Bitcoin Reserve.

The federal government reportedly holds hundreds of thousands of Bitcoin acquired through various law enforcement actions over the years. Historically, agencies such as the US Marshals Service auctioned off seized crypto in periodic sales. ARMA would end that practice for Bitcoin entirely, replacing those auctions with a two-decade vault strategy — shifting the government's role from periodic liquidator of seized coins to long-term custodian. Whether the proposal can clear committee will be settled when the panel convenes on September 16.