Coinbase negotiates with the U.S. government the future of its Bitcoin Reserve
The Senate stalled the Clarity Act, but the House advanced in committee the bill that seeks to legally protect the Bitcoin Reserve.
The House Financial Services Committee approved H.R. 8957 by a vote of 28 to 21 on September 16.
The Clarity Act fell short of the 60 votes needed in the Senate: it closed 49 in favor and 50 against.
On September 16, 2026, the House Financial Services Committee approved by a vote of 28 to 21 the H.R. 8957 bill, which seeks to turn into law the Strategic Bitcoin Reserve that Donald Trump created by executive order in 2025.
Two days later, Faryar Shirzad, head of policy at Coinbase, confirmed that the company is maintaining active talks with the U.S. Treasury and Commerce departments regarding its implementation.
The announcement comes two days after the Senate blocked the Clarity Act, the other bill the industry had been closely watching to set market rules. Both fronts are moving in parallel: one was temporarily halted in the Senate, while the other—more limited—continues its course in the House.
It is useful to distinguish between the two legal instruments at play. An executive order, like the one that created the Reserve in March 2025, is a presidential instruction that a successor president can reverse. A law passed by Congress, by contrast, requires another law to change it, giving it greater permanence across changes in administration.
H.R. 8957 does not authorize direct purchases of Bitcoin with public funds. It requires the Treasury and Commerce to study, within 180 days, “budget-neutral” methods to accumulate more units, including converting other crypto assets that have already been seized. The reserve would continue to be fed mainly by property confiscated in judicial cases.
#news
$BTC $SPCXB $ZEC
The Senate stalled the Clarity Act, but the House advanced in committee the bill that seeks to legally protect the Bitcoin Reserve.
The House Financial Services Committee approved H.R. 8957 by a vote of 28 to 21 on September 16.
The Clarity Act fell short of the 60 votes needed in the Senate: it closed 49 in favor and 50 against.
On September 16, 2026, the House Financial Services Committee approved by a vote of 28 to 21 the H.R. 8957 bill, which seeks to turn into law the Strategic Bitcoin Reserve that Donald Trump created by executive order in 2025.
Two days later, Faryar Shirzad, head of policy at Coinbase, confirmed that the company is maintaining active talks with the U.S. Treasury and Commerce departments regarding its implementation.
The announcement comes two days after the Senate blocked the Clarity Act, the other bill the industry had been closely watching to set market rules. Both fronts are moving in parallel: one was temporarily halted in the Senate, while the other—more limited—continues its course in the House.
It is useful to distinguish between the two legal instruments at play. An executive order, like the one that created the Reserve in March 2025, is a presidential instruction that a successor president can reverse. A law passed by Congress, by contrast, requires another law to change it, giving it greater permanence across changes in administration.
H.R. 8957 does not authorize direct purchases of Bitcoin with public funds. It requires the Treasury and Commerce to study, within 180 days, “budget-neutral” methods to accumulate more units, including converting other crypto assets that have already been seized. The reserve would continue to be fed mainly by property confiscated in judicial cases.
#news
$BTC $SPCXB $ZEC
