Bitcoin Reserve Bill: Annual or Quarterly Reporting?
crypto.news and UNLOCK Blockchain both cover the House Financial Services Committee’s 28-21 vote on H.R. 8957 but disagree on whether the final reporting requirement is annual or quarterly.
crypto.news and UNLOCK Blockchain both cover the House Financial Services Committee’s 28-21 vote on H.R. 8957 but disagree on whether the final reporting requirement is annual or quarterly.
What all sources agree on
- The U.S. House Financial Services Committee advanced H.R. 8957, the American Reserve Modernization Act of 2026, in a vote on September 16.
- The vote was 28-21.
- The bill imposes a minimum 20-year holding period for Bitcoin deposited into the Strategic Bitcoin Reserve.
- Bitcoin in the reserve could not be sold, swapped, auctioned, encumbered or otherwise disposed of during the holding period.
- Two years before the end of the holding period, the Treasury secretary would be required to provide Congress with recommendations on whether to continue holding the Bitcoin or begin a controlled release.
- The bill does not require the government to purchase a specified amount of Bitcoin.
- The bill was introduced in May by Rep. Nick Begich of Alaska.
- The legislation would establish a separate Digital Asset Stockpile for non-Bitcoin digital assets.
Where the reports disagree
1Whether the proof-of-reserve reporting requirement is annual or quarterly
Annual proof-of-reserve reporting replaced the original quarterly schedule under the committee-approved substitute amendment on Wednesday.
The bill also calls for quarterly public reporting of reserve holdings and transactions, including cryptographic proof that the government controls the assets.
What would settle it: The House Financial Services Committee’s official markup record and the text of the committee-approved substitute amendment to H.R. 8957.
What to make of it
Treat the 28-21 vote, the 20-year holding period, and the absence of a mandated Bitcoin purchase quota as established; the reporting frequency (annual vs. quarterly) should be treated as unresolved until the committee’s published substitute-amendment text is checked directly.
Treat the 28-21 vote, the 20-year holding period, and the absence of a mandated Bitcoin purchase quota as established; the reporting frequency (annual vs. quarterly) should be treated as unresolved until the committee’s published substitute-amendment text is checked directly.
Original source: AltcoinGordon
Syndicated coverage. Originally reported by altcoingordon.com.
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