A bill to revise the rules of construction applicable to information reporting requirements imposed on brokers with respect to digital assets, and for other purposes.

3.0.0 4751 2023-01-18T05:17:08Z 2023-01-18T05:17:08Z Senate S 2022-08-03 117 ssfi00 Finance Committee Senate Standing Referred to 2022-08-03T17:02:20Z A bill to revise the rules of construction applicable to information reporting requirements imposed on brokers with respect to digital assets, and for other purposes. 117 3249 S 2021-11-18 Read twice and referred to the Committee on Finance. Related bill CRS 2022-08-03 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2022-08-03 Introduced in Senate IntroReferral 10000 9 Library of Congress T000461 Sen. Toomey, Patrick [R-PA] Patrick Toomey R PA J. N S001191 Sen. Sinema, Kyrsten [D-AZ] Kyrsten Sinema D AZ 2022-08-03 True L000571 Sen. Lummis, Cynthia M. [R-WY] Cynthia Lummis R WY M. 2022-08-03 True W000805 Sen. Warner, Mark R. [D-VA] Mark Warner D VA R. 2022-08-03 True P000449 Sen. Portman, Rob [R-OH] Rob Portman R OH 2022-08-03 True Finance and Financial Sector Finance and Financial Sector

00 2022-08-03 Introduced in Senate 2023-01-13T15:22:24Z This bill excludes certain persons from being considered a broker for tax reporting purposes. Under current law, the transfer of digital assets from a broker to a nonbroker requires the broker to file a return beginning on January 1, 2024. The bill provides that a broker does not include any person solely engaged in the business of (1) validating distributed ledger transactions, or (2) selling hardware or software for which the sole function is to permit access to digital assets on a distributed ledger.

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A bill to revise the definition of a broker for purposes of certain reporting requirements with respect to digital asset transfers under the Internal Revenue Code of 1986, and for other purposes. Display Title A bill to revise the definition of a broker for purposes of certain reporting requirements with respect to digital asset transfers under the Internal Revenue Code of 1986, and for other purposes. Official Title as Introduced A bill to revise the definition of a broker for purposes of certain reporting requirements with respect to digital asset transfers under the Internal Revenue Code of 1986, and for other purposes. Introduced in Senate IS Introduced in Senate 2022-08-03T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s4751is/xml/BILLS-117s4751is.xml 2022-08-03 Read twice and referred to the Committee on Finance. 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.