Anyone can enter or exit the BEZ by acquiring or burning USABTC.
Here's a simple visual showing how it works:
Upon Congressional approval, more Bitcoiners than ever would have a free and secure space to transact and innovate.
Bitcoin Security: Secured by 100% of Bitcoin hash power. No counterparty risk.
Transact Tax-Free: Trade, hold, and transact Bitcoin without paying capital gains taxes.
Innovation-Friendly: Fully unlocking Bitcoin DeFi with programmable, high-speed, tax-free Bitcoin.
Passive Bitcoin Growth: The BEZ enables the U.S. to build a Strategic Bitcoin Reserve without taxpayer costs or market disruption.
Economic Strength: A tax-free trading zone attracts global capital and innovation, positioning America as a leader in digital finance.
No Burden to Taxpayers: Instead of spending billions on Bitcoin purchases, the U.S. can grow reserves through a fair exit tax.
Support USABTC
There are two ways to help make the tax-free Bitcoin Economic Zone a reality.
USABTC is the best way to create a U.S. Strategic Bitcoin Reserve.
It won't require raising taxes, adding national debt, or selling gold.
It will attract global innovation and grow the U.S. economy.
Supporting USABTC ensures America's financial leadership in a changing world.
Once the USABTC protocl activates, you can signal support for USABTC with an sBTC lock-up, showing policymakers that there is growing Bitcoin capital ready to enter the BEZ.
You maintain full custody over your funds and there are no costs beyond gas fees.
How to signal sBTC:
Download and open Leather Wallet
Add Bitcoin
Swap for sBTC
Once the protocol is live, transfer sBTC into USABTC smart contract
Infrastructure Development: Finalize the technical platform: smart contracts, secure wallets, and regulatory compliance. Conduct audits to ensure robustness, transparency, and legal soundness.
Accumulating Interest: Launch the BEZ signaling phase, allowing users to lock sBTC into the USABTC contract. Users retain full custody and can unlock funds anytime, signaling interest ahead of legislation.
Executive Directive (Optional): The President symbolically endorses integrating Bitcoin into U.S. financial strategy and authorizes Treasury preparations via the ESF.
Bill Introduction: A senator introduces legislation to establish USABTC, exempt BTC-to-USABTC conversions and BEZ holdings from capital gains tax, and implement a 10% exit tax on withdrawals. No capital gains are realized until exiting the BEZ.
Legal & Regulatory Framework: Legal advisors finalize opinions aligning the bill with existing tax precedents, ensuring IRS compliance without separate approval.
Congressional Passage: The bill amends the Internal Revenue Code to cement BEZ tax provisions.
IRS Implementation: The IRS issues guidance clarifying compliance, including reporting forms and requirements, ensuring a smooth rollout.