The House Financial Services Committee is set to hold a vote on H.R. 8957, a bill that could potentially lock up all US-seized Bitcoin for two decades. The markup for the legislation, titled the American Reserve Modernization Act of 2026, is scheduled for Wednesday, September 16 at 10:00 AM ET in the Rayburn Building.
The legislation was first introduced in May 2026 through the initiative of Rep. Nick Begich (R-Alaska) and co-sponsor Rep. Jared Golden (D-Maine). Its primary clause prohibits the government from releasing Bitcoin supplies into the open market for at least 20 years from the date the assets enter the national reserve.
Separate Paths for Bitcoin and Altcoins
If enacted, the US Department of the Treasury will have a 180-day deadline to establish a secure custody facility known as the Strategic Bitcoin Reserve. This dedicated facility must serve as the repository for all Bitcoin seized by the government through criminal or civil forfeiture.
Digital assets other than Bitcoin will receive different treatment. H.R. 8957 mandates the creation of a separate pool called the Digital Asset Stockpile to hold altcoins. The Treasury Department is granted flexibility to sell or convert assets in this category, provided that the liquidation proceeds are used solely for two purposes: purchasing additional Bitcoin for the national reserve or paying down the national debt.
Two Major Agendas on the Same Day
Wednesday’s schedule does not focus solely on asset reserve rules. The Ways and Means Committee is also holding a markup for the Digital Asset Tax Certainty Act (H.R. 10357). With two crucial agendas running simultaneously, September 16 stands as the busiest crypto legislative day in US congressional history.
This committee-level vote is only an initial step. H.R. 8957 must still secure approval in a full vote on the House floor, facing a long road ahead before reaching Senate deliberations. While the 20-year lockup rule has entered formal proceedings, its final enactment remains a distant milestone.
Source: crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
