PANews reported on May 22nd, citing Bitcoin News, that U.S. Representative Nick Begich has introduced the "U.S. Reserve Modernization Act," which already has 16 original co-sponsors. This bill would establish a strategic Bitcoin reserve, consolidating federally held digital assets and locking them up as long-term reserve assets for at least 20 years. The bill also explores budget-neutral Bitcoin acquisition strategies while protecting the reserve from future government and congressional liquidation efforts. The media outlet commented that the "U.S. Reserve Modernization Act" would formally enact the strategic Bitcoin reserve previously established by Trump through executive orders.