Summary: H.R.4602 — 113th Congress (2013-2014)All Information (Except Text)

There is one summary for H.R.4602. Bill summaries are authored by CRS.

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Introduced in House (05/07/2014)

Virtual Currency Tax Reform Act - Directs the Internal Revenue Service (IRS) to treat virtual currencies as a foreign currency for federal tax purposes. Defines "virtual currency" as a digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value.

Imposes a five-year moratorium on any capital gains tax on virtual currencies.