According to Wu Blockchain, U.S. Alaska Congressman Nick Begich and Maine Congressman Jared Golden have introduced the 'American Reserve Modernization Act' (ARMA), proposing the establishment of a strategic Bitcoin reserve under the U.S. Treasury. The bill also suggests creating an independent digital asset reserve to manage non-Bitcoin digital assets held by the federal government. The legislation requires federal agencies to report and transfer their digital assets to the Treasury for centralized custody and management. It also introduces quarterly 'proof of reserves,' third-party audits, and Congressional oversight mechanisms. Under the bill, Bitcoin in the strategic reserve must be held for at least 20 years, and it calls for research into budget-neutral strategies to increase holdings without raising taxes, fiscal deficits, or national debt. https://(wublock123.com)/news/news-61477