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     &lt;p&gt;&lt;b&gt;Token Taxonomy Act of 2021&lt;/b&gt;&lt;/p&gt; &lt;p&gt;This bill specifies that digital tokens, such as those used in virtual currencies,&amp;nbsp;are not&amp;nbsp;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.&lt;/p&gt;
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     To amend the Securities Act of 1933 and the Securities Exchange Act of 1934 to exclude digital tokens from the definition of a security, to direct the Securities and Exchange Commission to enact certain regulatory changes regarding digital units secured through public key cryptography, to adjust taxation of virtual currencies held in individual retirement accounts, to create a tax exemption for exchanges of one virtual currency for another, to create a de minimis exemption from taxation for gains realized from the sale or exchange of virtual currency for other than cash, and for other purposes.
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H11100
2021-03-08
Ways and Means Committee
hswm00
2
House floor actions
Referred 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.
IntroReferral
H11100
2021-03-08
Financial Services Committee
hsba00
2
House floor actions
Referred 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.
IntroReferral
Intro-H
2021-03-08
9
Library of Congress
Introduced in House
IntroReferral
1000
2021-03-08
9
Library of Congress
Introduced in House
IntroReferral
2021-03-08T17:05:45Z
Referred to
House
Ways and Means Committee
hswm00
Standing
2021-03-08T17:05:40Z
Referred to
House
Financial Services Committee
hsba00
Standing
S001200
9
Darren
Rep. Soto, Darren [D-FL-9]
Soto
D
2021-03-08
FL
B001305
13
Ted
Rep. Budd, Ted [R-NC-13]
Budd
R
2021-03-08
NC
G000583
5
Josh
Rep. Gottheimer, Josh [D-NJ-5]
Gottheimer
D
2021-03-08
NJ
P000605
10
Scott
Rep. Perry, Scott [R-PA-10]
Perry
R
2021-03-08
PA
S001193
15
Eric
Rep. Swalwell, Eric [D-CA-15]
Swalwell
D
2021-08-13
CA
R000612
6
John
Rep. Rose, John W. [R-TN-6]
Rose
W.
R
2021-08-13
TN
Congressional Research Service, Library of Congress
This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.
text/xml
EN
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
2021-03-08
2021-03-08
Referred 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.
House
Finance and Financial Sector
D000626
8
Warren
Rep. Davidson, Warren [R-OH-8]
N
Davidson
R
OH
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
2021-03-08
Introduced in House
 <p><b>Token Taxonomy Act of 2021</b></p> <p>This bill specifies that digital tokens, such as those used in virtual currencies,&nbsp;are not&nbsp;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.</p>
2021-06-30T18:44:01Z
00
2021-03-08T05:00:00Z
Introduced in House
https://www.govinfo.gov/content/pkg/BILLS-117hr1628ih/xml/BILLS-117hr1628ih.xml
Token Taxonomy Act of 2021
Token Taxonomy Act of 2021
Display Title
IH
Introduced in House
To amend the Securities Act of 1933 and the Securities Exchange Act of 1934 to exclude digital tokens from the definition of a security, to direct the Securities and Exchange Commission to enact certain regulatory changes regarding digital units secured through public key cryptography, to adjust taxation of virtual currencies held in individual retirement accounts, to create a tax exemption for exchanges of one virtual currency for another, to create a de minimis exemption from taxation for gains realized from the sale or exchange of virtual currency for other than cash, and for other purposes.
Official Title as Introduced
IH
Introduced in House
Token Taxonomy Act of 2021
Short Title(s) as Introduced
HR
2023-01-11T13:48:25Z
2023-01-11T13:48:25Z
3.0.0
H11100
2021-03-08
Ways and Means Committee
hswm00
2
House floor actions
Referred 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.
IntroReferral
H11100
2021-03-08
Financial Services Committee
hsba00
2
House floor actions
Referred 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.
IntroReferral
Intro-H
2021-03-08
9
Library of Congress
Introduced in House
IntroReferral
1000
2021-03-08
9
Library of Congress
Introduced in House
IntroReferral
D000626
8
Warren
Rep. Davidson, Warren [R-OH-8]
N
Davidson
R
OH
S001200
9
Darren
Rep. Soto, Darren [D-FL-9]
Soto
D
2021-03-08
FL
B001305
13
Ted
Rep. Budd, Ted [R-NC-13]
Budd
R
2021-03-08
NC
G000583
5
Josh
Rep. Gottheimer, Josh [D-NJ-5]
Gottheimer
D
2021-03-08
NJ
P000605
10
Scott
Rep. Perry, Scott [R-PA-10]
Perry
R
2021-03-08
PA
S001193
15
Eric
Rep. Swalwell, Eric [D-CA-15]
Swalwell
D
2021-08-13
CA
R000612
6
John
Rep. Rose, John W. [R-TN-6]
Rose
W.
R
2021-08-13
TN
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
2021-03-08
Introduced in House
 <p><b>Token Taxonomy Act of 2021</b></p> <p>This bill specifies that digital tokens, such as those used in virtual currencies,&nbsp;are not&nbsp;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.</p>
2021-06-30T18:44:01Z
00
Token Taxonomy Act of 2021
Token Taxonomy Act of 2021
Display Title
IH
Introduced in House
To amend the Securities Act of 1933 and the Securities Exchange Act of 1934 to exclude digital tokens from the definition of a security, to direct the Securities and Exchange Commission to enact certain regulatory changes regarding digital units secured through public key cryptography, to adjust taxation of virtual currencies held in individual retirement accounts, to create a tax exemption for exchanges of one virtual currency for another, to create a de minimis exemption from taxation for gains realized from the sale or exchange of virtual currency for other than cash, and for other purposes.
Official Title as Introduced
IH
Introduced in House
Token Taxonomy Act of 2021
Short Title(s) as Introduced
2021-03-08
Referred 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.