Last week, on September 6, 2025, Congressman David P. Joyce introduced bill H.R. 5166, directing the Treasury Department to examine US Bitcoin reserves and digital assets.
Bill Overview
The legislation requires the Treasury to deliver a comprehensive report within 90 days of enactment, addressing feasibility, custody standards, legal authority, and cybersecurity measures for federal digital assets. The analysis will also cover interagency transfer procedures and potential impacts on the Treasury Forfeiture Fund.
State-Level Developments
This congressional initiative represents the next step in America's Bitcoin reserve strategy following President Trump's March 2025 executive order. In 2025, 15 states proposed Bitcoin reserve legislation, including Pennsylvania, Ohio, and Wyoming.
Global Race for Digital Assets
US legislative action coincides with international competition for Bitcoin reserves. Various countries have announced reserve strategies recently, including Kazakhstan and the Philippines, aiming to integrate Bitcoin at the state level.
The introduction of bill H.R. 5166 highlights the growing interest in digital assets both in the US and globally, emphasizing the need for clear frameworks in managing government cryptocurrency reserves.
