The full legislative text of Bitcoin’s preferred bill HR 8957, the US Reserve Modernization Act of 2026, has been published in the US Congress. Websiteoffering lawmakers, industry stakeholders, and the public their first detailed look at the mechanics behind the bill that would permanently codify the Bitcoin Strategic Reserve into federal law.
invoice, foot It was referred May 21 by Rep. Nick Begich (R-Ala.), along with co-leader Rep. Jared Golden (D-ME) and more than 20 co-sponsors, to the House Committee on Financial Services upon submission.
While the legislation Wide features — consolidating federally owned bitcoin under the Treasury Department and building on President Trump’s March 2025 executive order — was known in the introduction, and the full text reveals a comprehensive architecture of custody rules, transparency requirements, and takeover guardrails that goes beyond the executive action it seeks to codify.
Central to the bill is a mandatory 20-year holding period on all bitcoins deposited in the Bitcoin Strategic Reserve, during which no property may be “sold, exchanged, auctioned, mortgaged, or otherwise disposed of for any purpose.”
This locking clock resets with each new deposit, meaning that Bitcoin seized through criminal or civil forfeiture proceedings — defined in the bill as “eligible Bitcoin” — will be essentially untouchable for two decades after they are transferred to the reserve.
After that period, the Secretary of the Treasury may recommend that no more than 10% of reserve assets be discharged during any two-year window, subject to congressional review.
Proof of US Bitcoin reserves
The full text also provides for a “proof of reserve” system that requires quarterly public cryptographic certifications of all holdings, independent third-party audits, and oversight by the Comptroller General — a level of on-chain transparency unprecedented for a federal financial program.
Non-Bitcoin digital assets acquired by the government, such as Ethereum or other confiscated cryptocurrencies, would be held in a separate digital asset inventory, with the proceeds of any dispositions going toward expanding the Bitcoin reserve or reducing the national debt.
Perhaps most noteworthy is that the bill explicitly prohibits the government from using any new loans, new taxes, or deficit spending to acquire Bitcoin.
Instead, it directs the Departments of Treasury and Commerce to… jointly Consider budget-neutral acquisition paths within 180 days of enactment – including transfers of non-Bitcoin stock assets, Federal Reserve surplus transfers, and revaluation of gold certificates.
The bill also opens up a voluntary state sharing program, allowing states to store their bitcoin holdings in segregated treasury accounts, emphasizing that no provision may be construed as allowing privately held bitcoin to be seized.
The bill now awaits action in the House Financial Services Committee.
