Virtual Currency Tax Fairness Act
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill expands a compliance mandate, definition change provision: 2. Virtual currency Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 139L the following new and expands a compliance mandate, definition change provision: 139K. De minimis gain or loss from sale or exchange of virtual currency Subject to subsection (b), gross income shall not include gain or loss from the sale. It relies on compliance mandates and definition changes. The main policy areas are Trade.
Who Benefits and How
The available clause analysis does not identify a specific beneficiary group.
Who Bears the Burden and How
No clear private burden is identified from the available clause analysis; implementing agencies may still take on administrative work.
Key Provisions
- Expands a compliance mandate, definition change provision: 2. Virtual currency Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 139L the following new...
- Expands a compliance mandate, definition change provision: 139K. De minimis gain or loss from sale or exchange of virtual currency Subject to subsection (b), gross income shall not include gain or loss from the sale...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for primary purpose and policy domains.
At a Glance
What This Bill Does
The bill expands a compliance mandate, definition change provision: 2. Virtual currency Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 139L the following new and expands a compliance mandate, definition change provision: 139K. De minimis gain or loss from sale or exchange of virtual currency Subject to subsection (b), gross income shall not include gain or loss from the sale.
Key Policy Areas
Trade
Primary Purpose
The bill expands a compliance mandate, definition change provision: 2. Virtual currency Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 139L the following new and expands a compliance mandate, definition change provision: 139K. De minimis gain or loss from sale or exchange of virtual currency Subject to subsection (b), gross income shall not include gain or loss from the sale.
Policy Domains
Sponsors
Legislative Progress
In CommitteeRead twice and referred to the Committee on Finance.
Introduced in Senate
Mr. Budd introduced the following bill; which was read twice …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "federal_implementing_agencies"
- → Federal agencies assigned duties by the bill
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology