Bill > HR7356

This bill aims to amend various securities and tax laws to exclude digital tokens from the definition of a security, create a tax exemption for certain virtual currency exchanges, and establish a de minimis exemption from taxation for gains realized from the sale or exchange of virtual currency for other than cash. The bill also directs the Securities and Exchange Commission (SEC) to enact regulatory changes regarding the safekeeping of digital units. Key provisions include: (1) defining "digital token" and excluding it from the definition of a "security"; (2) providing an exemption from securities laws for certain transactions involving digital tokens; (3) amending the definition of "bank" and "security" in the Securities Exchange Act of 1934; (4) allowing investments in certain virtual currencies within individual retirement accounts without being treated as distributions; (5) treating exchanges of virtual currency as non-taxable exchanges; and (6) creating a de minimis exemption from taxation for gains realized from the sale or exchange of virtual currency.

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https://www.congress.gov/bill/115th-congress/house-bill/7356/all-info