Referred to the House Committee on Ways and Means.
The bill amends the Internal Revenue Code to clarify and extend tax rules for digital assets. It treats certain "traded digital assets" like securities for lending-transfer rules, creates mark-to-market election rules for dealers and traders of widely traded digital assets, adds a safe harbor for trading activity in traded digital assets, and inserts detailed definitions (digital asset, traded, widely traded, wrapped, tokenized, stablecoin).
Supporters value tax clarity and anti-abuse authority; opponents fear IRS expansion
Relative to its intended legislative type, this bill is a well-structured substantive amendment to the Internal Revenue Code that inserts targeted rules and definitions for digital assets, integrates those changes into existing IRC sections, and provides concrete elections and transition mechanics while delegating definitional and anti-abuse refinement to the Secretary.
The bill amends the Internal Revenue Code to clarify and extend tax rules for digital assets.
It treats certain "traded digital assets" like securities for lending-transfer rules, creates mark-to-market election rules for dealers and traders of widely traded digital assets, adds a safe harbor for trading activity in traded digital assets, and inserts detailed definitions (digital asset, traded, widely traded, wrapped, tokenized, stablecoin).
It grants administrative authority to the Treasury/IRS for several definitions and contains rules of construction limiting legal inferences about other law.
Technical, targeted reforms increase plausibility but complexity, uncertain revenue effects, and contested crypto policy reduce odds.
Relative to its intended legislative type, this bill is a well-structured substantive amendment to the Internal Revenue Code that inserts targeted rules and definitions for digital assets, integrates those changes into existing IRC sections, and provides concrete elections and transition mechanics while delegating definitional and anti-abuse refinement to the Secretary.
Supporters value tax clarity and anti-abuse authority; opponents fear IRS expansion
These are examples from the analysis, not a ranked list of the most-affected groups.
Supporters value tax clarity and anti-abuse authority; opponents fear IRS expansion
Likely broadly favorable because it creates clearer tax rules, reduces ambiguity, and includes anti-abuse authority.
Support stems from improved tax compliance and clearer treatment of transfers and dealer accounting.
Some concern may remain about Treasury discretion and whether definitions favor large incumbents.
Generally supportive for pragmatic reasons: the bill clarifies tax treatment, offers election flexibility, and provides transitional rules.
Concerns focus on administrative complexity, transitional compliance costs, and need for clear IRS guidance.
Will seek balanced fixes without large unfunded mandates.
Mixed to somewhat opposed: appreciates clarity and stablecoin-as-dollar option but worries about expanded IRS definitions and federal discretion.
Concerns focus on larger compliance burdens, potential new taxes, and increased federal control over digital asset classifications.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Technical, targeted reforms increase plausibility but complexity, uncertain revenue effects, and contested crypto policy reduce odds.
The bill has not accumulated any surfaced votes yet.
Supporters value tax clarity and anti-abuse authority; opponents fear IRS expansion
Technical, targeted reforms increase plausibility but complexity, uncertain revenue effects, and contested crypto policy reduce odds.
Relative to its intended legislative type, this bill is a well-structured substantive amendment to the Internal Revenue Code that inserts targeted rules and definitions for digital assets, integrates those changes into…
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