Referred to the House Committee on Ways and Means.
This bill amends the Internal Revenue Code to apply the tax anti-abuse wash sale (section 1091) and constructive sale (section 1259) rules to digital assets. It defines terms like digital asset, tokenized and wrapped assets, traded and widely traded assets, stablecoins, staking, and mining.
Progressives emphasize closing tax loopholes and revenue gains
Relative to its intended legislative type, this bill is a focused substantive amendment to the Internal Revenue Code that extends wash sale and constructive sale rules to digital assets and adds a detailed definitional framework and exceptions.
This bill amends the Internal Revenue Code to apply the tax anti-abuse wash sale (section 1091) and constructive sale (section 1259) rules to digital assets.
It defines terms like digital asset, tokenized and wrapped assets, traded and widely traded assets, stablecoins, staking, and mining.
Tokenized and wrapped assets can be treated as substantially identical to economically equivalent securities or financial property.
A plausible, targeted tax-administration bill with some bipartisan potential, but regulatory pushback, definitional complexity, and external dependencies lower enactment odds.
Relative to its intended legislative type, this bill is a focused substantive amendment to the Internal Revenue Code that extends wash sale and constructive sale rules to digital assets and adds a detailed definitional framework and exceptions. It provides concrete statutory mechanics and reasonably anticipates many technical edge cases while leaving targeted authorities to the Secretary for regulatory refinement.
Progressives emphasize closing tax loopholes and revenue gains
These are examples from the analysis, not a ranked list of the most-affected groups.
Progressives emphasize closing tax loopholes and revenue gains
Generally supportive as a measure to close tax avoidance opportunities in the digital asset market and ensure parity with securities.
Sees this as increasing tax fairness and reducing opportunities for loss-harvesting abuse.
Wants strong enforcement but clear protections for miners and validators.
Sees the bill as a pragmatic update aligning tax rules with digital markets while reducing arbitrage.
Values modernization and parity, but is concerned about administrative feasibility and clarity.
Wants clearer definitions, predictable implementation timelines, and workable broker reporting rules.
Likely skeptical, viewing the bill as regulatory overreach that could chill innovation and impose compliance costs.
Concerned by treating tokenized assets as equivalent to securities and broad Treasury authority.
Some conservatives may accept closing clear tax abuses but worry about unintended effects on entrepreneurs and investors.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
A plausible, targeted tax-administration bill with some bipartisan potential, but regulatory pushback, definitional complexity, and external dependencies lower enactment odds.
The bill has not accumulated any surfaced votes yet.
Progressives emphasize closing tax loopholes and revenue gains
A plausible, targeted tax-administration bill with some bipartisan potential, but regulatory pushback, definitional complexity, and externa…
Relative to its intended legislative type, this bill is a focused substantive amendment to the Internal Revenue Code that extends wash sale and constructive sale rules to digital assets and adds a detailed definitional…
Go beyond the headline summary with full stakeholder mapping, legislative design analysis, passage barriers, and lens-by-lens tradeoff breakdowns.