US Congressman Seeks to Make Strategic Bitcoin Reserve Permanent Law

US Congressman Nick Begich has introduced a bill in the House aimed at codifying the US Strategic Bitcoin Reserve into permanent federal law. The American Reserve Modernization Act (ARMA) would require budget-neutral acquisitions of up to 200,000 BTC per year for five years and lock federally held bitcoin for at least 20 years.

The ARMA bill builds on earlier legislation and seeks to put President Donald Trump's executive order on a statutory footing. This means that even if future administrations try to rescind the executive order, the law would remain in place.

ARMA also authorizes the Treasury to acquire up to 200,000 BTC per year for five years, with the goal of building a one-million-coin reserve. Acquisitions must be made without new taxpayer spending, echoing earlier proposals tied to Senator Cynthia Lummis (R-WY).