A Republican bill with no cosponsors
Last activity — Referred to the House Committee on Ways and Means.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
This bill amends the Internal Revenue Code of 1986 to reduce tax compliance burdens related to digital asset ownership. It introduces exceptions and simplified accounting rules for certain digital asset transactions, network fees, and stablecoins. Specifically, Section 2 creates an exception for de minimis network fees under ten dollars. Section 3 establishes an election for simplified accounting for widely traded digital assets. Section 4 outlines specific tax treatments for U.S. dollar stablecoin transactions. Section 5 adjusts broker reporting requirements to align with these new exceptions and rules. Finally, Section 6 provides formal definitions for digital assets, traded digital assets, stablecoins, and related terms.
Yes· 3 of 16
- Scored +4
Would people in their twenties and thirties be better off under this?
Young adults are higher adopters of digital assets and benefit significantly from reduced tax reporting burdens.
- Scored +4
Would middle-income households be better off under this?
Significant reduction in bookkeeping and tax compliance effort for average digital asset holders.
- Scored +4
Would business owners be better off under this?
Reduces administrative burden for businesses managing digital asset transactions.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Exemption for Small Network Fees: Section 2 adds Section 1044 to the Internal Revenue Code, which states that no gain or loss is recognized on the disposition of a digital asset used to pay a network fee if the aggregate amount does not exceed $10. This relieves individual taxpayers from tracking and reporting tiny capital gains or losses on everyday network transaction fees.
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Simplified Tax Accounting: Section 3 adds Section 1051, allowing taxpayers to elect a simplified accounting method for widely traded digital assets. This provision reduces the paperwork burden of tracking individual cost bases for every single trade by treating gains or losses in aggregate as short-term capital items.
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Stablecoin Clarity: Section 4 adds Section 1063, which provides clear rules for acquiring and selling qualified U.S. dollar stablecoins at their redemption value. This helps everyday users avoid complex valuation burdens for stablecoins meant to hold a steady one-to-one value with the U.S. dollar.
Potential Negative Impacts for People
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Exclusions for Active Traders and Businesses: Section 2 excludes traders, brokers, dealers, persons facilitating validation for others, and taxpayers engaging in more than 5,000 digital asset transactions in a preceding taxable year from the de minimis network fee exception. This means high-volume participants do not receive this administrative relief and must continue complex tracking.
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Lock-In and Revocation Restrictions on Accounting Elections: Section 3 dictates that once a taxpayer elects simplified accounting for widely traded digital assets, the election applies to all subsequent years and generally cannot be revoked until after the first five taxable years. Taxpayers who regret the election face rigid waiting periods and automatic revocation rules if assets stop being widely traded.
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Exclusion of Non-Dollar Currencies and Related Parties: Section 4 specifies that the stablecoin tax relief does not apply to taxpayers using a functional currency other than the dollar, or to certain related-party transactions where stricter percentage thresholds are enforced.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Demographic And Interest Groups
- Would business owners be better off under this? — Reduces administrative burden for businesses managing digital asset transactions. Would middle-income households be better off under this? — Significant reduction in bookkeeping and tax compliance effort for average digital asset holders. Would people in their twenties and thirties be better off under this? — Young adults are higher adopters of digital assets and benefit significantly from reduced tax reporting burdens. Would high-income households be better off under this? — Simplifies accounting for large portfolios of widely traded digital assets. Would people with substantial wealth be better off under this? — Simplified accounting reduces professional accounting costs for large holdings. Would people in middle age be better off under this? — Provides tax simplification for digital asset investors in this age group. Would students be better off under this? — Digital asset accessibility is high among students who may benefit from simpler tax rules. Would billionaires be better off under this? — General reduction in reporting complexity for digital asset portfolios. Would households on low incomes be better off under this? — Small network fee exceptions benefit those using digital assets for small-value transactions. Would the very wealthiest people be better off under this? — Benefits from simplification, though often already utilizing professional tax strategies. Would retired people be better off under this? — Minor benefit for retirees who engage in digital asset trading. Would people over 65 be better off under this? — Limited positive impact for seniors who may use digital assets.
- Economy And Finance
- Does this make it easier to run a small business? — Reduces the accounting overhead for small businesses using digital assets for payments or investments. Is this likely to grow the economy? — Lowers barriers to digital asset utility by reducing the tax paperwork associated with small transactions. Does this cut taxes for middle-income families? — Reduces tax compliance burdens for middle-class digital asset owners through de minimis exceptions and simplified accounting. Does this cut taxes for small businesses? — Simplifies accounting for digital assets held by partnerships and S corporations.
- 6/8/2026
- Referred to the House Committee on Ways and Means.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.