The US House of Representatives proposes to confiscate Bitcoin and include it in strategic reserves

According to the official website of the United States Congress, the full text of the United States Reserve Modernization Act (H.R. 8957, ARMA), proposed by Alaska Congressman Nicholas Begich on May 21, has been made public and is now forwarded to the House Financial Services Committee for review. The bill intends to include criminal or civil confiscation of Bitcoin in the strategic reserve managed by the Ministry of Finance, establish a minimum holding period of 20 years, and establish quarterly reserve certification and independent audit mechanisms. The bill also requires the Ministry of Finance and the Ministry of Commerce to study the path of increasing neutral holdings of Bitcoin in the budget within 180 days. Analysts say that compared to the BITCOIN Act, which requires the purchase of 1 million bitcoins, ARMA is more moderate and politically feasible.