3.0.0 4602 2023-01-11T13:26:30Z 2023-01-11T13:26:30Z House H HR 2014-05-07 113 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. STOCKMAN:H.R. 4602.Congress has the power to enact this legislation pursuantto the following:Article 1. Section 8.``The Congress shall have Power To lay and collect Taxes''[Page H3940]]]> hswm00 Ways and Means Committee House Standing Referred to 2014-05-07T14:02:45Z 2014-05-07 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2014-05-07 Introduced in House IntroReferral Intro-H 9 Library of Congress 2014-05-07 Introduced in House IntroReferral 1000 9 Library of Congress S000937 Rep. Stockman, Steve [R-TX-36] STEVE STOCKMAN R TX 36 N Taxation Capital gains tax Currency International monetary system and foreign exchange Tax administration and collection, taxpayers Taxation 00 2014-05-07 Introduced in House 2014-07-08T19:20:29Z 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.

]]> Virtual Currency Tax Reform Act Display Title Virtual Currency Tax Reform Act Official Title as Introduced To change the tax status of virtual currencies from property to foreign currency. Introduced in House IH Short Titles as Introduced Virtual Currency Tax Reform Act Introduced in House 2014-05-07T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr4602ih/xml/BILLS-113hr4602ih.xml 2014-05-07 Referred to the House Committee on Ways and Means. 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. 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.