Bitcoin Confiscation Act

An Act to provide for the nationalization, to regulate the value, and for other purposes.

Be it enacted by the Senate and House of Representatives in Congress assembled,

Section 1. Title to all bitcoin within the borders of the United States is hereby transferred to and vested in the Government of the United States. Title to all bitcoin in excess of 0.00000001 bitcoin per person is hereby forfeited to the Government of the United States.

Section 2. The Secretary of the Treasury is hereby authorized and directed to pay $1 million per full bitcoin nationalized hereunder. In no case shall payment exceed $10,000 for a fractional bitcoin. Payment shall be made by check drawn on the Treasury, or in Central Bank Digital Currency hereinafter provided for, or in both, at the discretion of the Secretary.

Section 3. All persons required to deliver bitcoin hereunder shall be immune from criminal prosecution, fine, or forfeiture on account thereof.

Section 4. The Secretary of the Treasury may issue regulations as necessary to implement this Act. Regulations prescribed hereunder may impose upon persons required to deliver bitcoin such reporting requirements as the Secretary deems necessary.

Section 5. There is hereby authorized to be appropriated $100 billion for the purpose of carrying out the provisions of this Act. And any excess in the amount so provided over the amount necessary for such purpose shall be covered into the General Fund of the Treasury.

Section 6. This Act shall take effect January 1, 2025.

The Secretary of the Treasury shall have discretion to appoint such agents and to utilize such other local agencies as deemed necessary to facilitate the nationalization of bitcoin as provided herein.