S 2207
A bill to amend the Internal Revenue Code of 1986 to reform the treatment of digital assets.
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- Passed Senate
- Passed House
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Bill overview
This bill amends the Internal Revenue Code to establish a framework for treating digital assets. It defines a ‘digital asset’ as a recorded representation of value on a cryptographically secured distributed ledger, clarifies the tax treatment of financial assets held within digital assets, introduces a de minimis exclusion for small digital asset sales, reforms the tax treatment of digital asset lending, and addresses issues related to digital asset forks and airdrops. The bill also includes provisions for mark-to-market elections, wash sale rules, and charitable contributions involving digital assets.
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