3.0.0 4912 2025-01-14T18:20:21Z 2025-01-14T18:20:21Z Senate S S 2024-07-31 118 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred To 2024-07-31T21:46:28Z 2024-07-31 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2024-07-31 Introduced in Senate IntroReferral 10000 9 Library of Congress L000571 Sen. Lummis, Cynthia M. [R-WY] Cynthia Lummis R WY M. N Finance and Financial Sector Finance and Financial Sector 2024-09-06T14:41:42Z

00 2024-07-31 Introduced in Senate 2024-11-19T16:40:10Z <p><strong>Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide Act of 2024 or the BITCOIN Act of 2024</strong></p><p>This bill provides for the acquisition and storage of the cryptocurrency Bitcoin by the U.S. government.</p><p>The Department of the Treasury must purchase one million Bitcoins over a five-year period and hold the Bitcoins in trust for the United States. All Bitcoins acquired under this bill must be held for at least 20 years unless used to retire outstanding federal debt.</p><p>The bill directs Treasury to establish a Strategic Bitcoin Reserve for the secure storage of U.S. Bitcoins. The reserve must be a decentralized network of secure facilities across the United States. Existing U.S.&nbsp;Bitcoin holdings must be transferred to the reserve.&nbsp;States may voluntarily store Bitcoin holdings in the reserve in segregated accounts.</p><p>The bill also reduces the total amount of U.S. dollars Federal Reserve banks may hold in surplus and requires Federal Reserve banks to remit a certain amount of net earnings annually to the purchase of Bitcoins.</p>

Display Title 45 2024-09-05T03:08:15Z Short Title(s) as Introduced 101 2024-09-05T03:08:14Z Introduced in Senate IS Short Title(s) as Introduced 101 2024-09-05T03:08:14Z Introduced in Senate IS Official Title as Introduced 6 2024-09-05T03:03:16Z Introduced in Senate IS Introduced in Senate 2024-07-31T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118s4912is/xml/BILLS-118s4912is.xml 2024-07-31 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.