What to Know Senator Cynthia Lummis renewed her Bitcoin reserve campaign as House lawmakers advanced legislation governing federal holdings and potential purchasing programs. House legislatio
Senator Cynthia Lummis has renewed her campaign for a U.S. Strategic Bitcoin Reserve as House lawmakers advance two major cryptocurrency bills. According to Lummis, the House Financial Services Committee is reviewing legislation connected to her renewed proposal.
Her renewed effort follows the Senate’s failure to advance the CLARITY Act during a procedural vote on September 15. Attention has consequently shifted toward the House, where committees are considering measures involving Bitcoin holdings and digital asset taxation. The Financial Services Committee scheduled H.R. 8957, known as the American Reserve Modernization Act, for markup.
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H.R. 8957 would place government-controlled Bitcoin under Treasury Department oversight and establish formal requirements for managing those holdings. Moreover, the government would retain the assets for at least 20 years, preventing administrations from selling them during political cycles.
The proposal also requires proof-of-reserve attestations, audits, and reports covering balances, custody arrangements, and reserve management. These measures could provide lawmakers and taxpayers with greater visibility into Bitcoin obtained through seizures or other government actions.
However, the House proposal differs considerably from the Senate BITCOIN Act championed by Lummis. Her legislation would direct the Treasury to acquire up to one million Bitcoin through scheduled purchases spanning five years. Therefore, Lummis proposes actively expanding federal holdings, while H.R. 8957 primarily establishes rules for assets already controlled by the government.
Separately, the House Ways and Means Committee scheduled H.R. 10357, called the Digital Asset Tax Certainty Act, for markup. That measure would clarify tax treatment for cryptocurrency mining, staking rewards, network fees, charitable donations, and reporting obligations.
Additionally, clearer rules could help taxpayers determine when blockchain activities generate taxable income or qualify for specific deductions. Each proposal must pass the House before reaching the Senate, where cryptocurrency legislation remains divided.
Any version approved by both chambers would require President Donald Trump’s signature to become law. Meanwhile, the CLARITY Act setback has strengthened attention on narrower cryptocurrency proposals that may attract broader congressional support. The House proceedings will indicate whether lawmakers prefer long-term Bitcoin retention, government purchases, or a limited reserve based on holdings.
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