Strategic Fartcoin Reserve

The Department of the Treasury must purchase one trillion Fartcoins over a five-year period and hold the Fartcoins in trust for the United States. All Fartcoins acquired under this bill must be held for at least 20 years unless used to retire outstanding federal debt. The bill directs Treasury to establish a Strategic Fartcoin 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. Fartcoin holdings must be transferred to the reserve. States may voluntarily store Fartcoin holdings in the reserve in segregated accounts. 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 Fartcoins.