under United States law and subject to the Bank Secrecy 
Act and applicable Office of Foreign Assets Control 
(OFAC) requirements to act as the Secretary’s financial 
agents to receive, custody, convert (if and as directed by 
the Secretary), and remit Bitcoin tendered under this sec-
tion. Agents shall comply with applicable Treasury, Inter-
nal Revenue Service, and financial regulatory standards. 
‘‘(f) INFORMATION REPORTING AND GUIDANCE.— 
The Secretary may prescribe such regulations or other 
guidance as are necessary or appropriate to carry out the 
purposes of this section, including rules for documenta-
tion, receipts, timing and source of valuation, acceptable 
exchanges and price feeds, required network confirma-
tions, and information reporting by payors and agents. 
‘‘(g) BASIS AND LOT SELECTION.— 
‘‘(1) IN GENERAL.—In the case of a taxpayer 
that holds more than one lot of Bitcoin, the taxpayer 
may designate which lot or lots of Bitcoin are treat-
ed as transferred in a transaction described in sub-
section (d), in such form and manner and at such 
time as the Secretary may prescribe. 
‘‘(2) PERMISSIBLE
METHODS.—The Secretary 
shall prescribe regulations that allow taxpayers to 
determine which lot or lots are treated as trans-
ferred using one or more permissible methods in-
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cluding specific identification, first-in first-out, last- 
in first-out, highest cost in first-out, or other meth-
ods similar to those allowed under section 1012 and 
the regulations thereunder. The regulations shall 
provide rules for elections, changes in method, and 
default ordering when a taxpayer does not make a 
designation. 
‘‘(3) BASIS.—The adjusted basis of the lots of 
Bitcoin treated as transferred under this section 
shall be removed from the taxpayer’s aggregate basis 
in Bitcoin held, and the basis and holding period of 
any remaining Bitcoin shall be determined without 
regard to any gain or loss not recognized under sub-
section (d).’’. 
(b) CLERICAL AMENDMENT.—The table of sections 
for subchapter B of chapter 64 of such Code is amended 
by adding at the end the following new item: 
‘‘Sec. 6318. Payment with Bitcoin.’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to payments made after the date 
of the enactment of this Act. 
SEC. 3. STRATEGIC BITCOIN RESERVE AND CUSTODY AU-
THORITY. 
(a) ESTABLISHMENT.—Any Bitcoin received by the 
Secretary as a payment under the Internal Revenue Code 
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of 1986 shall be deposited by the Secretary in a Strategic 
Bitcoin Reserve (referred to in this Act as the ‘‘Reserve’’). 
(b) CUSTODY AND MANAGEMENT.—The Secretary is 
authorized to— 
(1) accept, hold, and aggregate Bitcoin received 
under Federal law or acquired through lawful means 
on behalf of the United States, 
(2) establish such custody, storage, and security 
arrangements for the Reserve as the Secretary de-
termines appropriate, including cold storage, multi- 
signature arrangements, and geographically distrib-
uted storage facilities, and 
(3) manage such holdings with discretion, sub-
ject to applicable law, to ensure long-term safe-
keeping and security. 
(c) LONG-TERM RETENTION.—Bitcoin deposited in 
the Reserve shall be held for the long-term benefit of the 
United States. The Secretary may not sell, swap, or other-
wise dispose of Bitcoin held in the Reserve except— 
(1) in accordance with a schedule providing 
that no more than one-twentieth of the total hold-
ings may be disposed of in any one-year period, and 
(2) only after the 20-year period beginning on 
the date such Bitcoin was received or acquired by 
the United States. 
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(d) REPORTING
AND OVERSIGHT.—The Secretary 
shall publish an annual public report describing— 
(1) the total Bitcoin holdings of the United 
States, and 
(2) the custody and security arrangements of 
the Reserve. 
(e) SECRETARY.—For purposes of this section, the 
term ‘‘Secretary’’ means the Secretary of the Treasury or 
the Secretary’s delegate. 
Æ 
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