Bitcoin's 28–21 Reserve Win Authorizes Zero Purchases: What ARMA Actually Changes
Bitcoin just won a historic committee vote. It did not win a government buy order. The American Reserve Modernization Act would lock up qualifying federal Bitcoin, change the custody rules and demand an inventory. It authorizes the Treasury to buy exactly zero coins. On September 16, the House Financial Services Committee advanced H.R. 8957, or ARMA, by 28–21, the first full-committee passage of a strategic Bitcoin reserve bill. All votes for passage came from Republicans; all opposing votes came from Democrats. The committee’s markup record also records the adoption of Rep. Bryan Steil’s substitute and the defeat of Rep. Maxine Waters’ amendment, 21–28. ...