TLDR
- Patrick Witt said a bitcoin reserve announcement is expected in the coming weeks.
- Trump’s order created a strategic bitcoin reserve and digital asset stockpile.
- The reserve would rely mainly on bitcoin from federal forfeitures.
- ARMA aims to codify Trump’s bitcoin reserve order into federal law.
- The Clarity Act debate focuses on rules for exchanges, wallets and developers.
White House digital asset adviser Patrick Witt has said the Trump administration is preparing a new announcement on the strategic bitcoin reserve, as lawmakers continue efforts to turn the reserve policy into federal law.
Witt, executive director of the President’s Council of Advisors for Digital Assets, said officials have been working through legal and operational questions tied to the reserve. He said the executive branch is preparing to take another step within the next few weeks, while Congress considers related legislation.
President Donald Trump signed an executive order last year directing the creation of a strategic bitcoin reserve and a separate digital asset stockpile. The reserve is expected to be funded mainly through bitcoin already held by the federal government through criminal and civil forfeitures.
White House Works on Bitcoin Reserve Plan
Witt said the administration has been reviewing the legal structure needed to protect bitcoin already listed on the government balance sheet. He said the work is focused on making sure the reserve is properly built and secured under existing executive authority.
The strategic Bitcoin Reserve has become a central part of the administration’s digital asset policy. Supporters of the plan say it would prevent the government from selling seized bitcoin without a long-term framework, while critics have raised questions about volatility and federal exposure to digital assets.
Witt said a “big announcement” is expected in the coming weeks. He described the expected move as a step from the executive branch, while noting that legislation would still be needed to give the reserve stronger legal standing.
Executive orders can be changed by later administrations, which has led lawmakers to pursue a bill that would codify the policy. A law passed by Congress would make the reserve harder to reverse through administrative action alone.
ARMA Bill Seeks to Codify Trump Order
Sen. Cynthia Lummis and Rep. Nick Begich have been working on legislation tied to the strategic bitcoin reserve. The proposal was previously known as the BITCOIN Act and is being renamed the American Reserves Modernization Act, or ARMA.
The earlier version of the bill proposed acquiring one million bitcoin over five years through budget-neutral strategies. It also sought to create a framework for holding Bitcoin as a long-term reserve asset.
Begich said the new name is intended to broaden understanding of the bill’s purpose. The proposal is framed around reserve modernization and the treatment of Bitcoin as a strategic asset.
The legislation would build on Trump’s executive order by placing the reserve into statute. It would also direct attention to bitcoin already held across government agencies and create a formal structure for custody.
The administration’s expected announcement could arrive as lawmakers prepare the renamed bill for further debate. The path forward will depend on committee review, support in both chambers, and the wider debate over digital asset policy.
Crypto Clarity Debate Returns to Congress
The reserve discussion is moving alongside a broader debate over digital asset regulation. Lawmakers and White House officials have pointed to the Clarity Act as a key measure for defining rules for exchanges, wallet providers, developers, and other market participants.
Witt said the United States should seek a leading role in crypto markets and financial infrastructure. He argued that clearer rules could bring more activity into the United States, including trading venues, custody providers, payments firms, and developers building around bitcoin.
Lummis said durable legislation is needed because crypto policy can change sharply between administrations. She said builders and investors need predictable rules rather than enforcement decisions that shift with political leadership.
The panel discussion also addressed concerns about crime involving digital assets. Lummis said blockchain records can provide law enforcement with transaction trails that are not available with cash.
The coming weeks could bring new action from both the White House and Congress. The strategic Bitcoin reserve announcement, ARMA legislation, and the Clarity Act are expected to remain central to Washington’s digital asset agenda.