US Bitcoin Reserve Bill Clears House Committee; Tax Reform and Regulatory Gridlock

What happened: The US House Financial Services Committee approved the Strategic Bitcoin Reserve bill (H.R. 8957) by a 28-21 vote. Sponsored by Rep. Nick Begich (R-AK) and co-led by Rep. Jared Golden (D-ME), the bill would require the US Treasury to hold a minimum Bitcoin reserve for at least 20 years, with quarterly proof-of-reserve reports. On the same day, the Digital Asset Tax Certainty Act passed the House Ways and Means Committee 38-5, introducing a $10 de minimis exemption for blockchain transaction fees and extending wash-sale rules to digital assets. Meanwhile, the CLARITY Act failed to advance in the Senate, signaling a likely increase in SEC and CFTC rulemaking.

Why it matters: The committee votes reflect a growing but still divided Congressional appetite for integrating digital assets into US financial policy. The Bitcoin Reserve bill, if enacted, would set a global precedent for sovereign crypto reserves, but its narrow bipartisan support and lack of a scheduled floor vote highlight ongoing political friction. The tax bill's progress suggests incremental regulatory clarity, while the Senate's gridlock may leave the SEC and CFTC with broader discretion in the near term.

Source: Cointelegraph