- US Representative David P. Joyce has introduced a bill requiring the Treasury Department to study the feasibility of a federal Strategic Bitcoin Reserve and a broader digital asset stockpile.
- The legislation, which must be approved by the full House and Senate, directs the Treasury to report on how it would manage, secure, and account for the reserve, as well as the role of private custodians.
- The initiative follows an executive order from President Trump earlier this year to establish such a reserve.
US lawmakers are advancing legislation that would force the Treasury Department to examine how to build and manage a federal Bitcoin reserve, as well as custody of other digital assets.
Representative David P. Joyce introduced an appropriations bill on Friday that includes two provisions requiring the Treasury to deliver a report within 90 days of enactment.
The report must cover feasibility, custody arrangements, cybersecurity, and legal authority for the creation of a Strategic Bitcoin Reserve, a project ordered earlier this year by President Donald Trump, and a broader digital asset stockpile.
The bill also directs the Treasury to explain how interagency transfers would function, how the assets would be represented on the federal balance sheet, and what role (if any) private contractors would play in custody. It must also assess potential legal and operational obstacles and analyze the effect on the Treasury Forfeiture Fund, which currently holds confiscated assets.
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Adopting New Technology
In March, Trump signed an executive order establishing the reserve, with the intention of using seized digital assets to back the program. Treasury Secretary Scott Bessent has since said the department is reviewing “budget-neutral pathways” to expand the reserve.
The legislation will go before the full House. If it passes, the Senate will then consider the measure.
In a statement on X, Joyce said the bill advances fiscal discipline, national security, and adoption of new technology.
The idea of a Bitcoin reserve has gained traction among several nations. A month ago, Brazil, a leader in crypto adoption in South America, gauged the possibility of creating a Bitcoin stockpile. The Philippines followed suit shortly after, with Congress discussing a proposal to establish a Strategic Bitcoin Reserve.
Related: White House Crypto Council Director Bo Hines Resigns to Return to Private Sector
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