[U.S. House Financial Services Committee Advances Bitcoin Strategic Reserve Bill with a 28-21 Vote] Odaily Planet Daily reports that the U.S. House Financial Services Committee on Wednesday advanced the 'American Reserve Modernization Act' (H.R. 8957) with 28 votes in favor and 21 votes against. All 28 votes in favor came from Republicans, while all 21 votes against came from Democrats. The bill requires the Treasury Department to establish a Bitcoin Strategic Reserve and a Digital Asset Reserve within 180 days and mandates all federal agencies to report their held assets within 60 days. Bitcoin included in the reserve cannot be sold, exchanged, auctioned, or pledged for 20 years. The revised text removes provisions for purchasing additional Bitcoin using Federal Reserve funds, gold certificate revaluation, and tariff revenues, and adjusts the frequency of reserve proof reports from quarterly to annually. The bill does not authorize the purchase of Bitcoin but requires the Treasury and Commerce Departments to explore options for increasing holdings at no cost to taxpayers. (Decrypt)