Lawmakers in Washington are weighing how the federal government should approach custody of Bitcoin and other digital assets.
A new bill, HR 1566, directs the Treasury Department to prepare a comprehensive report on the feasibility of creating both a Strategic Bitcoin Reserve and a wider Digital Asset Stockpile.
The measure forms part of the financial services and government operations appropriations process for the fiscal year ending Sept. 30, 2026.
The legislation requires Treasury officials to examine how such reserves would affect the existing Forfeiture Fund, which currently receives seized assets from federal agencies.
The bill also calls for an explanation of how Bitcoin and other tokens would be represented on the federal balance sheet, which would clarify how the US accounts for digital holdings.
Another requirement in the bill is transparency regarding custody partners and the security of digital assets.
Considering this, the bill instructs the US Treasury to outline custody models, legal authority, cybersecurity protections, and interagency procedures for transferring and storing digital assets.
The lawmakers further requested the identification of potential third-party contractors who could manage custody on behalf of the government.
These details aim to ensure that any reserve is functional and defensible against operational or cyber risks.
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The Treasury Secretary must deliver the findings to key House and Senate committees within 90 days of the bill’s enactment. This deadline signals urgency, as lawmakers seek rapid clarity on whether the government can credibly maintain a strategic Bitcoin reserve.
US Bitcoin reserve efforts
HR 1566 builds on broader efforts to formalize a US Bitcoin reserve strategy.
Earlier this year, President Donald Trump floated the idea through an executive order, sparking significant interest from both policymakers and markets.
Yet a concrete timeline for implementation has not emerged.
The absence of a clear framework has fueled uncertainty within the crypto industry, which has sought direction on how the government intends to treat digital reserves.
Lawmakers such as Senator Cynthia Lummis have already introduced legislation, including the BITCOIN Act, to encourage strategic accumulation.
However, those measures remain stalled in Congress, leaving the future of a US Bitcoin reserve unresolved.
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Source: https://cryptoslate.com/us-treasury-faces-a-90-day-deadline-to-map-out-strategic-bitcoin-reserve/
