HOUSE 2144116th CongressReferred 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.

of 2019

Last Action: 4/9/2019

Actions

2019-04-09Referred 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.
2019-04-09Referred 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.
2019-04-09Introduced in House
2019-04-09Introduced in House

CRS Summary

As of 2019-04-09 (00)

Token Taxonomy Act of 2019

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, 2017.

Cosponsors (8)

Darren Soto (D-FL)
Josh Gottheimer (D-NJ)
Ted Budd (R-NC)
Tulsi Gabbard (D-HI)
Scott Perry (R-PA)
John Rose (R-TN)
Eric Swalwell (D-CA)
Anthony Gonzalez (R-OH)

Subjects

Administrative law and regulatory procedures
Banking and financial institutions regulation
Capital gains tax
Computers and information technology
Currency
Digital media
Employee benefits and pensions
Federal Trade Commission (FTC)
Federal preemption
Financial services and investments
Fraud offenses and financial crimes
Income tax exclusion
Securities
State and local government operations
Tax administration and collection, taxpayers

Read on Congress.gov

Sourced from Congress.gov (public domain).

This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.