Changes how federal income tax applies to digital assets such as cryptocurrency, covering small transaction fees, gain and loss reporting, stablecoins, lending, wash sales, charitable gifts, mining and staking income, broker reporting, and a voluntary disclosure program.

• Excludes from gain or loss certain digital asset payments of network or transaction fees of $10 or less, with exclusions for dealers, traders, and high-volume filers
• Lets taxpayers elect simplified annual gain and loss accounting for widely traded digital assets, and treats qualified U.S. dollar stablecoins bought at or near redemption value as having no gain or loss on a sale near par
• Applies wash sale and constructive sale rules to traded digital assets, and treats income from staking and mining as ordinary income sourced by residence
• Requires brokers to report digital asset information on a modified basis, and directs the Treasury to establish a Digital Asset Voluntary Disclosure Program within 12 months of enactment

• Ways and Means Committee (House)

Taxation