H.R. 1628 · 117th Congress · House

Token Taxonomy Act of 2021

Active· Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determi…
Introduced
Mar 8, 21
Passed House
Pending
Passed Senate
Pending
Sent to President
Pending
Signed into Law
Pending

Executive Summary

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.

Action Timeline

4
  1. MAR 08, 2021•IntroReferral

    Introduced in House

  2. MAR 08, 2021•IntroReferral

    Introduced in House

  3. MAR 08, 2021•IntroReferral

    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.

  4. MAR 08, 2021•IntroReferral

    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.

Committees

2

Ways and Means Committee

hswm00

Referred: Mar 8, 2021

Active

Financial Services Committee

hsba00

Referred: Mar 8, 2021

Active