Representative Matt Van Epps has emerged as a key advocate for the American Reserve Modernization Act (ARMA), framing the legislation as an extension of Nashville's growing Bitcoin ecosystem. As a freshman congressman from Tennessee's 7th District, Van Epps co-led the legislation alongside Rep. Nick Begich (R-AK), who introduced the American Reserve Modernization Act of 2026. The bill would codify President Trump's March 2025 executive order establishing a Strategic Bitcoin Reserve, giving it statutory permanence that no future administration could reverse with a pen stroke. According to Bitcoin Magazine, Van Epps is one of 18 original cosponsors of ARMA, introduced on May 21, with the legislation stretching across nine states.
Under ARMA, the bill would authorize the U.S. Treasury to acquire up to 200,000 BTC per year for five years, targeting one million coins total. As reported by Bitcoin Magazine, all holdings would be locked for a minimum of 20 years, with any future sale permitted only for reducing the national debt. The reserve would sit inside the U.S. Department of the Treasury and hold BTC seized through federal law enforcement forfeitures and civil penalties. The legislation builds on the earlier BITCOIN Act framework that Begich introduced with Senator Cynthia Lummis in March 2025. The U.S. government currently holds an estimated 328,372 BTC accumulated through law enforcement seizures, including proceeds from the Silk Road takedown and the 2022 Bitfinex hack recovery.
Van Epps cited Nashville's position as one of the nation's leading Bitcoin hubs as a key driver for his support, describing the legislation as a statement about what his district already represents. According to Bitcoin Magazine, he pointed to Bitcoin Park, the city's digital asset community, and the annual Bitcoin conference returning to Nashville in 2027. The congressman told Bitcoin Magazine that with a national debt of $39 trillion, this legislation is an essential piece of legislation. Van Epps, a West Point graduate and combat helicopter pilot who won his seat in a December 2025 special election, emphasized that supporting the bill means supporting the financial innovation taking place in his district. The bill also affirms that the federal government may not impair the lawful right of individuals to own, transfer, or self-custody digital assets.
The legislation includes significant transparency measures not present in the original executive order. As reported by Bitcoin Magazine, the bill requires quarterly public Proof of Reserve reports and independent third-party audits to accompany the reserve, adding a layer of statutory transparency that the existing executive order lacks. Van Epps stressed that the reserve would be established without cost to American taxpayers, with any future sale permitted only for debt reduction. The bill also draws a firm line on property rights, including language affirming that the federal government cannot interfere with an individual's right to own, transfer, or self-custody digital assets, reflecting the libertarian undertone running through much of the pro-Bitcoin caucus in Congress.
White House crypto adviser Patrick Witt indicated at Bitcoin 2026 in late April that a 'breakthrough' tied to the administration's Bitcoin reserve plans could arrive in coming weeks. However, the Senate presents significant challenges, with competing crypto legislation moving through committee there and the path to 60 votes remaining unclear. As reported by crypto.news, a Senate companion version from Senators Lummis and Cassidy includes similar codification provisions. The legislation also directs a study on budget-neutral acquisition strategies to evaluate methods for expanding reserves without increasing taxes or deficit spending.
