The House of Representatives' "Modernization of American Reserve Act" proposes a 20-year holding period for strategic Bitcoin reserves
Foresight News reports that, according to the official website of the United States Congress, the full text of the “American Reserve Modernization Act” (H.R.8957, ARMA) has been published. The bill was introduced by Alaska Representative Nicholas Begich on May 21, and has now been referred to the House Financial Services Committee for review. The main contents of the bill include: placing Bitcoin obtained by the government through criminal or civil forfeiture into a strategic Bitcoin reserve managed by the Treasury Department, setting a minimum holding period of 20 years during which it cannot be sold or disposed of; establishing a quarterly proof-of-reserve mechanism with third-party independent audits; and allowing states to voluntarily custody their Bitcoin in independent accounts within the Federal Reserve.
Regarding forward-looking provisions, the bill requires the Treasury Department and Commerce Department to jointly study, within 180 days, a budget-neutral approach to increasing Bitcoin holdings. This would include converting non-Bitcoin digital assets, forfeited proceeds, voluntary donations, tax or tariff income, and utilizing mechanisms related to the Federal Reserve or gold certificates. Analysts point out that compared to the previous “BITCOIN Act,” which called for the purchase of 1 million Bitcoins, ARMA is milder and has greater political viability but still leaves room for the federal government to increase its Bitcoin holdings in the future.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Morgan Stanley senior bond investor turns bullish on US Treasuries for the first time in ten years
US Stock Movement | SuperX AI Technology (SUPX.US) once fell more than 2.5%, hitting an intraday low of $6.46
SuperX AI Technology's stock price declined, falling more than 2.5% at one point.
BUZZ-Pacira BioSciences participated in a Viatris acquisition deal worth 1.65 billions dollars
Latest Update October 8 – Pacira BioSciences (PCRX.O) shares surged by 44%, hitting a more than three-year high at $36.30. If the rally holds, PCRX is poised for its largest single-day gain on record. Pharmaceutical company Viatris (VTRS.O) will acquire Pacira BioSciences in a $1.65 billion cash deal, offering $36.50 per share. The offer represents a premium of approximately 44.8% over Pacira’s recent closing price of $25.20. The transaction will add Pacira’s non-opioid pain medications Exparel and Zilretta to Viatris' product portfolio. Viatris shares fell 2.6% to $17.04. JPMorgan stated: “We believe this acquisition will not significantly alter VTRS' overall financial profile in the short or long term, and expect Exparel’s sales to gradually decline post-2030 due to generic market entry.” Both parties expect to complete the transaction by the end of 2026. Including intraday fluctuations, PCRX shares have risen 40.2% year-to-date, while VTRS has gained 36.8%. (For the convenience of non-English speakers, Reuters provides automated translations of its reports into several other languages. As automated translation may contain errors or lack the necessary context, Reuters does not guarantee the accuracy of automated translated texts and provides them for readers’ convenience only. Reuters assumes no liability for any damage or losses resulting from the use of automated translation.)
Crypto prices
More
