The House Financial Services Committee is gearing up for a pivotal vote on the American Reserve Modernization Act (ARMA) of 2026 (H.R. 8957) on Wednesday, September 16 at 10:00 a.m. ET.
The ARMA bill, introduced by Republican Rep. Nick Begich and Democrat co-sponsor Rep. Jared Golden in late May, contains several core provisions that aim to revolutionize the nation’s approach to digital assets, particularly Bitcoin.
One of the key stipulations of the bill is a 20-year lockup period, during which the government will be prohibited from trading or selling Bitcoin, except if the proceeds are used to retire federal debt. Additionally, any Bitcoin obtained from criminal seizures or penalties must be surrendered to the national Bitcoin reserve, rather than being auctioned off.
Another significant provision of the ARMA bill is the establishment of a “Digital Asset Stockpile” to hold various altcoins classified as assets. The government will have the authority to sell or trade these assets for Bitcoin or liquidate them to pay off national debt.
The bill also emphasizes budget neutrality, ensuring that there are zero costs associated with acquiring Bitcoin for the national reserve. The Department of the Treasury and the Department of Commerce will be tasked with devising strategies to accumulate 1 million BTC over a span of 5 years.
Moreover, the legislation prohibits the government from purchasing Bitcoin using debt, new taxes, or deficit spending. Instead, the acquisition of Bitcoin will be funded using surplus dollars or a portion of the net earnings from Federal Reserve banks.
Furthermore, the ARMA bill includes provisions for a decentralized network of secure physical storage facilities across the country, with third-party contractors conducting quarterly audits to ensure transparency.
Once the bill clears the House Financial Services Committee, it will proceed to the House of Representatives for a vote, followed by review in the Senate and ultimately requiring the President’s signature to become law.
In conclusion, the ARMA bill represents a significant step towards modernizing the nation’s approach to digital assets, particularly Bitcoin, and ensuring transparency and accountability in the management of the national reserve. Stay tuned for further updates on this groundbreaking legislation.