The U.S. Congress has published the full legislative text of H.R. 8957, the American Reserve Modernization Act of 2026, revealing comprehensive custody and transparency requirements that could reshape federal cryptocurrency management and create new specialized roles across the blockchain industry.
Introduced May 21 by Rep. Nick Begich (R-AK) and Rep. Jared Golden (D-ME) with over 20 co-sponsors, the bill establishes detailed operational frameworks that extend well beyond President Trump's March 2025 executive order on Bitcoin reserves. The legislation now awaits review by the House Committee on Financial Services.
Custody Framework and Technical Requirements
The bill mandates a 20-year holding period on all Bitcoin deposited into the Strategic Bitcoin Reserve, prohibiting any sales, swaps, or encumbrances during this timeframe. This lock-up applies to Bitcoin acquired through criminal and civil forfeiture proceedings, with the clock resetting upon each new deposit.
After the initial holding period, the Treasury Secretary may recommend liquidating no more than 10% of reserve assets within any two-year window, subject to Congressional oversight.
The legislation introduces quarterly Proof-of-Reserve requirements that demand public cryptographic attestations, independent third-party audits, and Comptroller General oversight. This represents unprecedented on-chain transparency standards for federal financial programs and will likely require specialized blockchain auditing expertise.
Implications for Digital Asset Management
The bill creates a separate Digital Asset Stockpile for non-Bitcoin cryptocurrencies like Ethereum acquired through government operations. Proceeds from disposing these assets would fund Bitcoin reserve expansion or debt reduction.
Notably, the legislation prohibits new borrowing, taxation, or deficit spending for Bitcoin acquisition. Instead, it directs Treasury and Commerce to study budget-neutral pathways within 180 days, including converting non-Bitcoin assets, utilizing Federal Reserve remittances, and revaluing gold certificates.
The bill also establishes a voluntary state participation program, allowing states to custody their Bitcoin holdings in segregated Treasury accounts while explicitly protecting private Bitcoin ownership from seizure.
Workforce Impact
For blockchain professionals, this legislation signals growing demand for compliance specialists, custody engineers, and blockchain auditors capable of implementing federal-grade security and transparency standards. Organizations positioning for government contracts will need teams experienced in cryptographic proof systems and regulatory reporting frameworks.
