US Congress Pushes for Report on Strategic Bitcoin Reserve

U.S. Congress lawmakers are moving forward with the plans to formalize a regulatory plan for digital assets with a new bill. The Congress has directed the U.S. Treasury Department to provide a comprehensive report on the Strategic Bitcoin Reserve. The Bill was introduced last week by Representative David P. Joyce. It requires the U.S. Treasury Department to submit its findings within 90 days of enactment.

Congress Demands Report on Strategic Bitcoin Reserve

The report must cover the feasibility of maintaining a federal Bitcoin reserve and broader digital asset stockpile ordered earlier this year by President Donald Trump. It will also detail custody arrangements, legal authority, interagency transfer mechanisms, cybersecurity safeguards, and how such holdings would appear on the federal balance sheet.

Lawmakers further asked the Treasury to assess potential obstacles to implementation and outline the reserve’s impact on the Department of the Treasury Forfeiture Fund. The measure also demands disclosure of third-party contractors who could be responsible for custody.

The push builds on Trump’s March executive order establishing a Strategic Bitcoin Reserve and digital asset fund using government-confiscated crypto. Treasury Secretary Scott Bessent has since confirmed that his department is exploring “budget-neutral pathways” to strengthen the reserve.

Representative Joyce, in a post on X, praised the House Appropriations Committee for advancing the measure, saying it ensures fiscal responsibility while embracing innovation and supporting national security. The bill will now move to the full House before potentially heading to the Senate.

The U.S. move comes as other nations accelerate their own crypto reserve strategies. Kazakhstan’s President Kassym-Jomart Tokayev this week proposed a state fund to accumulate digital assets, calling them “promising assets in the new digital financial system.”

Meanwhile, the Philippines’ Congress is weighing a proposal to establish a 10,000-Bitcoin strategic reserve, which would make the nation the first in Southeast Asia to formally adopt Bitcoin as a sovereign asset.

Globally, countries already hold more than 517,000 BTC in their reserves, accounting for around 2.46% of Bitcoin’s total supply, according to Bitbo data. The U.S. initiative, if realized, would mark another milestone in the integration of Bitcoin into state-level financial strategy.