 |
October 17, 2013, 06:36:54 AM |
|
An Act
To provide authority for the Bitcoin Community to purchase and insure certain types of troubled assets for the purposes of providing stability to and preventing disruption in the economy and financial system and protecting users, to provide individual income tax relief, and for other purposes.
DIVISION A--EMERGENCY ECONOMIC STABILIZATION
TITLE I--TROUBLED ASSETS RELIEF PROGRAM
SEC. 101. PURCHASES OF TROUBLED ASSETS.
(a) Offices; Authority-
(1) AUTHORITY- The Secretary is authorized to establish the Troubled Asset Relief Program (or ‘TARP’) to purchase, and to make and fund commitments to purchase, troubled assets from any financial institution, on such terms and conditions as are determined by the Secretary, and in accordance with this Act and the policies and procedures developed and published by the Secretary.
(2) COMMENCEMENT OF PROGRAM- Establishment of the policies and procedures and other similar administrative requirements imposed on the Secretary by this Act are not intended to delay the commencement of the TARP.
(3) TARP ASSETS- Assets defined as "troubled" include ASICMINER shares, LABCOIN shares, IceDrill shares and btcQuick shares
(4) FUNDING SOURCE- The bitcoins used for purchasing of the troubled assets will be obtained from a one-time block creating 100,000 BTC.
|
