U.S. House Committee Advances Strategic Bitcoin Reserve Bill

The U.S. House Financial Services Committee approved H.R. 8957, the U.S. Reserve Modernization Act, by a vote of 28 to 21 on September 17. According to PANews, the bill was introduced by Representative Nick Begich and would establish the legal status of a strategic bitcoin reserve.The measure would place bitcoin held by the federal government under Treasury custody and require a holding period of at least 20 years. The bill has been sent to the full House for consideration, but no floor vote has been scheduled.