HR 1628 · 117th Congress · Finance and Financial Sector
Token Taxonomy Act of 2021
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: 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.(2021-03-08)
Plain Language Summary
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Token Taxonomy Act of 2021 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, retroactive to January 1, 2021.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (6)
3 Democrats3 Republicans