[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7361 Introduced in House (IH)]

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115th CONGRESS
  2d Session
                                H. R. 7361

 To amend the Internal Revenue Code of 1986 to allow exclusion of gain 
          or loss on like-kind exchanges of virtual currency.


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                    IN THE HOUSE OF REPRESENTATIVES

                           December 20, 2018

   Mr. Budd 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 allow exclusion of gain 
          or loss on like-kind exchanges of virtual currency.

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

SECTION 1. EXCLUSION FOR LIKE-KIND EXCHANGES OF VIRTUAL CURRENCY.

    (a) In General.--Section 1031 of the Internal Revenue Code of 1986 
is amended by adding at the end the following new subsection:
    ``(i) Special Rule for Virtual Currency.--For purposes of this 
section, the exchange of virtual currency for virtual currency of like 
kind shall be treated in the same manner as the exchange of real 
property for real property of like kind.''.
    (b) Effective Date.--The amendments made by this section shall 
apply with respect to exchanges completed after the date of the 
enactment of this Act.
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