US lawmakers have introduced a new bill requiring the Treasury Department to closely examine and report on the feasibility, custody, legal framework, and cybersecurity arrangements in reference to the new United States Strategic Bitcoin Reserve.
Representative Joyce introduced the House appropriations bill, giving direct instructions that mandate. The Treasury Department is to deliver an in-depth report within ninety days after the legislation becomes officially enacted and implemented.
The legislation directs the Treasury to outline ways of securely storing Bitcoin, define its custody responsibilities, and detail how digital assets transfer appropriately among agencies under established federal procedures.
It also requires the full details of how the Bitcoin holding will be included in the official federal government balance sheet and disclose contractors responsible for custody.
President Donald Trump earlier signed an executive order establishing the Strategic Bitcoin Reserve using government-seized cryptocurrencies to fund both the reserve and an associated digital asset stockpile.
Global Nations Accelerate Strategic Bitcoin Reserve Plans
The department is also exploring budget-neutral measures in order to increase the reserve without new tax expenditure, as outlined by Treasury Secretary Scott Bessent.
The new bill is a reflection of the growing concern in Washington over digital currencies, with the House reviewing the proposal before passing it on to the Senate.
Representative Joyce praised the House Appropriations Committee in supporting his more expansive legislation while emphasizing the importance of fiscal responsibility, the use of modern technology, and strengthened national security protections.
The legislation also requires the Treasury Department to assess potential obstacles, especially the effects on the Treasury Forfeiture Fund, which is responsible for overseeing seized monetary assets.
Kazakhstan President Kassym-Jomart Tokayev recently outlined national strategies in building a strategic crypto reserve, seeking to gather valuable assets in the digital system in continuous development.
At the same time, the Philippines’ Congress discussed the idea of building a reserve of 10,000 Bitcoin, which would make the region its first nation to use Bitcoin as an official strategic asset. Latest statistics reveal that the world’s nations now keep over 517,000 Bitcoin in national reserves, equaling around 2.46 percent of the digital coin’s global supply.
