Bill > S954

This bill establishes a comprehensive Strategic Bitcoin Reserve and Bitcoin Purchase Program aimed at integrating Bitcoin into the United States' national financial strategy. The legislation would require the Secretary of the Treasury to purchase 1,000,000 Bitcoins over a five-year period, storing them in a decentralized network of secure facilities across the United States. The bill mandates a minimum 20-year holding period for these Bitcoins, during which they cannot be sold or transferred, with the goal of enhancing national financial resilience and positioning the United States at the forefront of digital asset innovation. The program includes robust transparency measures, such as quarterly public reports and a Proof of Reserve system with independent auditing. To offset the costs of this initiative, the bill proposes using surplus funds from Federal Reserve Banks and gold certificate remittances. The legislation also allows voluntary state participation in Bitcoin storage and explicitly protects private property rights, ensuring that the government cannot seize or interfere with individuals' lawfully acquired Bitcoin holdings. Additionally, the bill modifies the Exchange Stabilization Fund to include Bitcoin and requires enhanced reporting on Bitcoin-related transactions, reflecting a strategic approach to integrating digital assets into the nation's financial infrastructure.

Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/senate-bill/954/all-info