September 14, 2026
Mr. Smith of Missouri (for himself, Mr. Arrington, Mr. Bean of Florida, Mr. Carey, Mr. Horsford, Mr. Kelly of Pennsylvania, Mr. Kustoff, Mr. Miller of Ohio, and Mr. Yakym) introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to reform the tax treatment of digital assets, and for other purposes.
1. Short title; etc; TITLE I—REMOVING TAX BARRIERS TO THE USE OF DIGITAL ASSETS AS A MEDIUM OF EXCHANGE; 101. Treatment of de minimis digital asset fees; 102. Simplified accounting for gain and loss on widely traded digital assets; 103. Treatment of U.S. dollar stablecoin transactions; TITLE II—PROVIDING PARITY BETWEEN DIGITAL ASSETS AND COMPARABLE TRADITIONAL FINANCIAL ASSETS; 201. Transfers of traded digital assets pursuant to a lending agreement; 202. Dealers and traders of widely traded digital assets; 203. Digital asset trading safe harbor; 204. Charitable contributions of certain digital assets; TITLE III—APPLYING EXISTING TAX ANTI-ABUSE RULES TO DIGITAL ASSETS; 301. Application of wash sale rules to traded digital assets; 302. Application of constructive sale rules to digital assets; 303. Application of subpart F and PFIC rules; 304. Rules related to possessions for determining source of gain or loss on disposition of traded digital assets; 305. Application of registration-required obligation rules; 306. Certain rules related to character of gains and losses relating to digital assets; 307. Miscellaneous provisions; TITLE IV—CLARIFYING THE TAX TREATMENT OF MINING AND STAKING; 401. Source and character of mining and staking income; 402. Investment trusts engaged in digital asset staking; TITLE V—ENSURING THAT OWNERS AND USERS OF DIGITAL ASSETS FACE AN APPROPRIATE TAX COMPLIANCE BURDEN; 501. Broker requirements; 502. Establishment of Digital Asset Voluntary Disclosure Program; 503. Treasury study and report; TITLE VI—DEFINITIONS; REGULATIONS; RULES OF CONSTRUCTION; 601. Definitions; 602. Regulations; 603. Rules of construction; TITLE VII—FULL HOUSE ACT; 701. Reinstatement of rules for wagering losses
De minimis digital asset fee exception