U.S. lawmakers have inserted provisions into a House appropriations bill that would force the Treasury Department to study establishing a Strategic Bitcoin Reserve and spell out operational rules for government-held digital assets.
Filed by Representative David Joyce (R-OH) and approved by the House Appropriations Committee, the measures would require Treasury to deliver a rapid assessment if the bill becomes law. Section 137 asks for a report on “the practicability of establishing a Strategic Bitcoin Reserve and United States Digital Asset Stockpile,” including impacts on the Treasury Forfeiture Fund and the legal authorities that could permit asset transfers.
Section 138 directs Treasury to produce a plan within 90 days detailing a custody architecture, legal authorities, cybersecurity protocols, and interagency procedures for any digital assets the federal government holds.
Legal and custody experts say the results could set industry benchmarks. If adopted, those decisions would force the Treasury to address the same custody, key-management, and accounting choices that institutional custodians face. Kurt Watkins, founder of Watkins Legal, says federal definitions for custody and accounting could become a de facto baseline for public and private entities that hold Bitcoin.
The move follows President Donald Trump’s March executive order that created the reserve conceptually but left implementation details unspecified. The appropriations language appears aimed at translating that framework into concrete guidance and, potentially, into law.
Why this matters: federal definitions of custody, key management, cybersecurity, and balance-sheet treatment could influence banks, exchanges, and custodians that service institutional clients. Clear government standards may ease institutional adoption — but they also create compliance and operational expectations firms must meet.
Next steps: the bill is on the House Union Calendar and awaits floor consideration. Progress will depend on broader spending negotiations in Congress.
Source: Decrypt. Read the original coverage for full details.