U.S. Lawmaker Introduces "U.S. Reserve Modernization Act" Targeting to Formally Codify Strategic Bitcoin Reserve into Law

BlockBeats News, May 22 - U.S. Representative Nick Begich officially introduced the American Reserve Modernization Act (ARMA), with the support of 16 original cosponsors. The bill aims to enshrine into law the strategic Bitcoin reserve previously established by Trump through an executive order. ARMA will establish a strategic Bitcoin reserve, consolidate all federally held digital assets, and lock them in as a long-term reserve asset for a minimum of 20 years. It will also explore a budget-neutral Bitcoin acquisition mechanism and design safeguards to protect the reserve from arbitrary liquidation by future administrations or Congress.