HR 7356 · 115th Congress · Finance and Financial Sector

Token Taxonomy Act

Introduced 2018-12-20· Sponsored by Rep. Davidson, Warren [R-OH-8]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.(2018-12-20)

Plain Language Summary

[AI summary unavailable — showing source text] Token Taxonomy Act This bill specifies that digital tokens, such as those used in virtual currencies, are not securities for regulatory purposes. The bill also provides for the tax treatment of virtual currencies, including by excluding from gross income any gains from virtual currency transactions up to $600.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Democrat
Rep. Soto, Darren [D-FL-9]FL