The House Financial Services Committee passed H.R. 8957, the “U.S. Reserve Modernization Act,” in a 28-21 vote. Introduced by Representative Nick Begich, the bill would establish the legal status of a strategic bitcoin reserve. The measure would require bitcoin held by the federal government to be custodied by the Treasury Department and held for at least 20 years. The bill now moves to the full House for consideration, though no floor vote has been scheduled.