U.S. lawmakers introduced the American Reserve Modernization Act (ARMA) on May 21, 2026, reviving the push to enshrine the Strategic Bitcoin Reserve into federal law. The bipartisan bill, combined with the White House signaling an imminent Bitcoin Reserve announcement, made this one of the most consequential policy weeks for crypto in months.
U.S. Lawmakers Revive the Strategic Bitcoin Reserve Bill
Rep. Nick Begich (R-AK) and Rep. Jared Golden (D-ME) introduced ARMA in the House with 17 original co-sponsors. The bill would codify President Trump’s March 2025 executive order establishing the Strategic Bitcoin Reserve, directing the Treasury to maintain Bitcoin holdings for a minimum of 20 years.
The U.S. government currently holds approximately 328,372 BTC worth over $25 billion, accumulated primarily through criminal and civil forfeitures including the Silk Road and Bitfinex cases.
U.S. Government Bitcoin Holdings
328,372 BTC
Over $25 billion — the reserve ARMA would codify into law for 20+ years
Unlike the earlier BITCOIN Act, ARMA deliberately drops the mandatory 1 million BTC purchase target. Instead, it directs the Treasury and Commerce departments to study whether additional acquisitions are feasible, a strategic compromise designed to broaden bipartisan support.
ARMA also mandates quarterly public proof-of-reserve reports and independent audits, establishing Treasury-level transparency for the Bitcoin stockpile. A separate stockpile for non-Bitcoin government-held crypto assets would also be created under the bill.
“The ARMA bill safeguards crypto from ‘the whims of Congress or future administrations.'”
— Rep. Nick Begich (R-AK), via Decrypt
Co-lead Golden echoed that sentiment, stating that a stockpile created under ARMA would enjoy the “weight of law,” not just the whims of the executive branch. This distinction matters: Treasury Secretary Bessent has ruled out agency Bitcoin purchases, making congressional legislation the only pathway to expand the reserve beyond seized assets.
Trump’s Crypto Actions This Week
The ARMA bill lands in a week already loaded with executive action on digital assets. Trump signed the GENIUS Act into law last year, establishing the first federal regulatory framework for dollar-backed stablecoins. That law requires 100% reserve backing by U.S. dollars or short-term Treasuries, a foundation the administration has continued to build on.
At Consensus Miami earlier this month, White House adviser Patrick Witt, executive director of the President’s Council of Advisors for Digital Assets, said a formal U.S. Bitcoin Reserve announcement was coming “in the next few weeks.” Witt reportedly referred to ARMA as “Version 2” of the BITCOIN Act, signaling executive alignment with the new legislative approach.
The dual-track strategy of a White House announcement alongside fresh legislation creating permanent legal footing distinguishes this week from previous Bitcoin Reserve efforts. While the SEC continues to work through its broader regulatory timeline, the administration appears focused on locking in crypto policy wins through Congress.
According to unconfirmed reports, Trump also signed a fintech deregulation executive order on May 19 directing the SEC, CFTC, and four other federal regulators to streamline rules for fintech firms.
Bitcoin Drops Despite Historic Legislative Week
Despite the policy momentum, Bitcoin traded at $75,132 with a -2.40% move over 24 hours. The broader crypto market cap sits at $1.50 trillion, and broader macro uncertainty continues to weigh on prices.
The disconnect between landmark legislation and subdued market sentiment is stark. The Crypto Fear & Greed Index reads 28 out of 100, firmly in Fear territory.
Crypto Fear & Greed Index
Markets remain cautious even as landmark crypto legislation advances in Washington
The pattern echoes similar dynamics seen when the SEC approved Nasdaq Bitcoin index options: positive regulatory developments don’t always translate to immediate price action when macro headwinds persist.
For market participants tracking U.S. regulatory direction, the key dates ahead are concrete. ARMA must clear committee before reaching a floor vote; according to a single source, a Senate floor vote could come as early as mid-June 2026, though no congressional calendar confirmation exists yet. The White House’s promised Bitcoin Reserve announcement, per Witt’s Consensus Miami comments, should arrive within weeks.
With the GENIUS Act already law, the CLARITY Act pending Senate passage for broader digital asset jurisdiction, and ARMA now targeting the reserve itself, the legislative infrastructure around U.S. crypto policy is expanding faster than at any point in the industry’s history.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
