|

U.S. Congress Demands 90-Day Report on Strategic Bitcoin Reserve Security

🇺🇸

The U.S. Congress is transferring ahead with legislation that might require the Treasury Department to ship a complete report on the Strategic Bitcoin Reserve and broader U.S. Digital Asset Stockpile inside 90 days of enactment.

The measure, filed on September 5 by Representative David Joyce (R-OH) as a part of the Financial Services and General Government Appropriations Act for FY2026 (H.R. 5166), directs the Treasury to evaluate the feasibility, safety, and accounting of a federal digital asset reserve constructed primarily from seized cryptocurrencies.

The invoice has already cleared the House Appropriations Committee, been assigned Union Calendar No. 193, and is awaiting a ground vote. Its final passage, nevertheless, will hinge on broader price range negotiations later this 12 months.

U.S. Treasury Report to Weigh Feasibility of a Bitcoin Reserve

Currently, the federal authorities holds an estimated 198,000–207,000 BTC (roughly $17–20 billion), largely acquired by way of regulation enforcement actions in opposition to darknet markets, fraud schemes, and cybercrime. Historically, these holdings had been offered off at public auctions, a follow now shifting towards strategic retention.

Under the brand new framework, nevertheless, Treasury would wish to evaluate the practicability of creating a strategic Bitcoin reserve and digital asset stockpile, together with potential authorized or operational limitations.

The invoice additionally requires readability on how these belongings could be valued on the federal steadiness sheet, how custody could be managed, and whether or not outdoors contractors could be used for safekeeping.

Notably, the report should analyze how consolidating seized Bitcoin and different belongings right into a reserve would have an effect on the Treasury Forfeiture Fund, which presently receives proceeds from asset seizures.

National safety looms giant within the proposal. The laws directs Treasury and the National Security Agency to collectively put together a categorized safety evaluation detailing methods to shield federal digital asset reserves from cyberattacks, insider threats, and overseas adversaries.

It additionally requires the division to stipulate its authorized authority, cybersecurity measures, and interagency protocols for transferring digital belongings securely.

The timing displays a broader political push. In March, President Donald Trump signed an executive order establishing a framework for a national Bitcoin reserve, explicitly stating that the federal government wouldn’t purchase cash on the open market however as a substitute rely on confiscations.

Treasury Secretary Scott Bessent has since bolstered the message, arguing that Bitcoin can serve as a hedge and an innovation signal, whereas taxpayers profit from retaining high-value belongings quite than promoting them off prematurely.

Supporters of the invoice body it as fiscal pragmatism and geopolitical technique. Representative Joyce said the measure ensures that the federal government “stays fiscally accountable, leverages new expertise, and is targeted on nationwide safety.”

The laws additionally features a prohibition in opposition to funding a U.S. central financial institution digital forex, exhibiting Republican resistance to a government-backed CBDC.

Global Momentum for National Bitcoin Reserves: Governments Now Hold 517,000 BTC Worldwide

Adding urgency to the necessity for correct reserve classification and reporting, some U.S. states advance their very own measures. Particularly, Texas has already established a state-level reserve, whereas different states, together with New Hampshire and Arizona, have handed digital asset funding legal guidelines.

Notably, the United States isn’t alone in exploring crypto reserves. This week, El Salvador superior its Bitcoin accumulation with a 21 BTC buy to have fun Bitcoin Day regardless of the IMF listing. Likewise, Kazakhstan’s president, Kassym-Jomart Tokayev, recently proposed a state crypto fund to build up digital belongings.

In the Philippines, lawmakers have thought-about a proposal to determine a reserve of 10,000 Bitcoin, which might make it the primary in Southeast Asia to undertake such a measure. Similarly, Brazil’s Congress is contemplating Bill 4501/24, a proposal to create a $19 billion Bitcoin reserve, often called RESBit, beneath the joint oversight of the Central Bank and Finance Ministry.

Notably, Bitbo knowledge reveals that governments worldwide maintain greater than 517,000 Bitcoin, equal to 2.46% of the entire provide. Holdings embrace almost 194,000 Bitcoin in China, over 11,000 in Bhutan, and round 6,000 in El Salvador.

The publish U.S. Congress Demands 90-Day Report on Strategic Bitcoin Reserve Security appeared first on Cryptonews.

Similar Posts