Lawmakers in Washington are considering how the federal government should approach custody of Bitcoin and other digital assets.
The new bill, HR 1566, directs the Treasury to prepare a comprehensive report on the possibility of creating both strategic Bitcoin reserves and wider digital asset stockpiles.
The measure forms part of the Financial Services and Government Operations Budget Process for the fiscal year ending September 30, 2026.
The Act requires Treasury officials to investigate how such reserves affect existing forfeiture funds that currently receive assets seized from federal agencies.
The bill also calls for an explanation of how Bitcoin and other tokens are represented on the federal balance sheet, which will clarify how the US explains digital holdings.
Another requirement of the bill is transparency regarding custody partners and the security of digital assets.
With this in mind, the bill directs the US Treasury to outline custody models, legal authority, cybersecurity protection, and interagency procedures for transferring and storing digital assets.
The lawmakers also requested the identification of potential third-party contractors who could manage custody on behalf of the government.
These details are intended to ensure that they are functional and defensible against operational or cyber risk.
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The Treasury Secretary must submit its findings to the major House and Senate committees within 90 days of the bill’s enactment. The deadline shows urgency as lawmakers quickly clarify whether the government can maintain its trustworthy strategic Bitcoin reserve.
US Bitcoin Reservation Efforts
HR 1566 is based on a broader effort to formalize the US Bitcoin Reserve Strategy.
Earlier this year, President Donald Trump came up with ideas through an executive order, sparking great interest from both policymakers and markets.
However, no specific timeline for implementation has been made.
The lack of a clear framework has encouraged uncertainty in the crypto industry. This has called for direction in how the government intends to deal with digital reserves.
Senators such as Cynthia Ramis have already introduced legislation, including the Bitcoin Act, to encourage strategic accumulation.
However, these measures remain suspended in Congress, and the future of the US Bitcoin reserve has not been resolved.
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