House committee advances Strategic Bitcoin Reserve bill, includes XRP

The U.S. House Financial Services Committee voted 28 to 21 in favor of H.R. 8957, the American Reserve Modernization Act of 2026, moving the legislation forward on September 16. This bill proposes the creation of two separate crypto-related reserves at the Treasury Department: a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile.

Key features of H.R. 8957

Under H.R. 8957, Bitcoin will be held in the Strategic Bitcoin Reserve, which requires the government to hold these assets for at least 20 years. Other digital assets, including tokens beyond Bitcoin, will be placed in the U.S. Digital Asset Stockpile.

Federal agencies that currently possess any form of digital assets must report their holdings within 60 days of the bill’s enactment, with the Treasury mandated to assume custody within 30 days after those disclosures.

To promote transparency, the legislation calls for public quarterly Proof of Reserve disclosures. These reports are intended to ensure that government-held cryptocurrency assets can be monitored and audited by the public and market participants.

House Financial Services advanced H.R. 8957 with a 28-21 vote, bringing both the Strategic Bitcoin Reserve and the U.S. Digital Asset Stockpile, which covers assets like XRP, one step closer to reality. This marks the first formal congressional progress for such legislation.