BlockBeats report: On June 5, according to the official U.S. Congress website, the full text of the U.S. Reserve Modernization Act (H.R.8957, ARMA) has been made public. Introduced on May 21 by Representative Nicholas Begich of Alaska, the bill has now been referred to the House Committee on Financial Services for review. Key provisions of the bill include: incorporating Bitcoin acquired by the government through criminal or civil forfeiture into a strategic Bitcoin reserve managed by the Department of the Treasury, establishing a minimum holding period of 20 years during which the Bitcoin may not be sold or disposed of; implementing a quarterly reserve attestation mechanism with third-party independent audits; and permitting states to voluntarily custody their Bitcoin in separate accounts within the federal reserve.
Regarding forward-looking provisions, the bill requires the Treasury and Commerce Departments to jointly conduct a study within 180 days on feasible pathways to acquire Bitcoin in a budget-neutral manner, including converting non-Bitcoin digital assets, seizing proceeds, accepting voluntary donations, and utilizing tax or tariff revenues, as well as leveraging mechanisms related to the Federal Reserve or gold certificates. Additionally, the bill mandates that forked assets or airdrops generated from government-controlled addresses must be securely held. The sale of forked or airdropped assets is prohibited for five years. After five years, the market value will be assessed; the dominant asset (the one with the highest market capitalization) will be retained, while other assets may be disposed of, with proceeds deposited into the Treasury. If an asset possesses unique strategic value, a recommendation may be made to Congress to retain it.
Analysts note that the ARMA bill is more moderate and politically feasible than the previous Bitcoin Act, which required the purchase of 1 million bitcoins, yet still leaves room for future federal accumulation of Bitcoin.