118 HR 8149 IH: To amend the Internal Revenue Code of 1986 to clarify the tax treatment of digital asset rewards.
U.S. House of Representatives
2024-04-29
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EN
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1.Digital asset rewards included in gross income upon sale or disposition(a)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:92.(a)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)For purposes of this section—(1)The term digital asset
shall have the meaning given such term under section 6045(g)(3)(D).(2)Blockchain consensus mechanismThe 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)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)The amendments made by this section shall apply to taxable years beginning after December 31, 2023.