In 1933, FDR ordered Americans to surrender their gold to save the banking system. 93 years later, Washington wants to do the opposite: legally bind itself to hoard a decentralized digital commodity. On June 8, the full text of H.R. 8957, the American Reserve Modernization Act (ARMA), went public: a 20-year lock-up on the government’s 328,372 BTC, manda…
America is locking up its Bitcoin for 20 years
The full text of H.R. 8957, the American Reserve Modernization Act is public. A 20-year lock-up, mandatory proof-of-reserve, and zero new spending authority on all BTC deposited into the reserve.
