[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8149 Introduced in House (IH)]

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118th CONGRESS
  2d Session
                                H. R. 8149

To amend the Internal Revenue Code of 1986 to clarify the tax treatment 
                       of digital asset rewards.


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                    IN THE HOUSE OF REPRESENTATIVES

                             April 29, 2024

  Mr. Ferguson (for himself and Mr. Nickel) introduced the following 
      bill; which was referred to the Committee on Ways and Means

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                                 A BILL


 
To amend the Internal Revenue Code of 1986 to clarify the tax treatment 
                       of digital asset rewards.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. DIGITAL ASSET REWARDS INCLUDED IN GROSS INCOME UPON SALE OR 
              DISPOSITION.

    (a) In General.--Part II of subchapter B of chapter 1 of the 
Internal Revenue Code of 1986 is amended by adding at the end the 
following new section:

``SEC. 92. DIGITAL ASSET REWARDS.

    ``(a) In General.--If, pursuant to a blockchain consensus mechanism 
with respect to any digital asset, a person acquires (directly, or 
indirectly through a service provider) a reward of a digital asset--
            ``(1) no income or gain shall result at the time of such 
        acquisition, and
            ``(2) on the disposition of such digital asset in any 
        taxable year, the income or gain (if any) with respect to such 
        asset shall be the income or gain, as the case may be, from the 
        disposition for such taxable year.
    ``(b) Definitions.--For purposes of this section--
            ``(1) Digital asset.--The term `digital asset' shall have 
        the meaning given such term under section 6045(g)(3)(D).
            ``(2) Blockchain consensus mechanism.--The term `blockchain 
        consensus mechanism' means, with respect to any digital asset, 
        a process by which a person commits resources in connection 
        with validating the legitimacy of transactions and related 
        entries in the cryptographically secured distributed ledger to 
        which such digital asset relates.''.
    (b) Clerical Amendment.--The table of sections for part II of 
subchapter B of chapter 1 of such Code is amended by adding at the end 
the following new item:

``Sec. 92. Digital asset rewards.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2023.
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