House Financial Committee to Review the U.S. Reserve Modernization Act

The House Financial Committee will review the U.S. Reserve Modernization Act on September 16. The bill was introduced by Republican Congressman Nick Begich from Alaska on May 21, with Democratic Congressman Jared Golden from Maine as a co-sponsor. The bill aims to integrate digital assets held by the U.S. government into reserve assets, preventing arbitrary disposal by Congress or future administrations. Proceeds from the sale or conversion of non-Bitcoin assets can be used to purchase additional Bitcoin or reduce national debt. The bill also requires the Treasury and Commerce Departments to study a budget-neutral strategy for acquiring additional Bitcoin over five years and explicitly states that it does not authorize borrowing, new taxes, or deficit spending to fund purchases.

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