H.R. 1628 · 117th Congress
Token Taxonomy Act of 2021
- Stage
- In committee
- Sponsor
- Warren Davidson
- Introduced
- 2021-03-08
- Latest action
- 2021-03-08 · Introduced in House
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.