The PAR Act amends the Internal Revenue Code to clarify rules for digital asset trading, including definitions and tax treatment.

The Providing Analogous Rules for Digital Assets Act (PAR Act) amends the Internal Revenue Code to introduce specific rules for digital asset trading. It defines terms such as "digital asset," "traded digital asset," and "wrapped digital asset." The act applies mark-to-market accounting rules to dealers and traders of covered digital assets. It also provides a safe harbor for digital asset trading and allows the Secretary to treat qualified U.S. dollar stablecoins as dollars. The changes apply to transfers made and taxable years beginning after the enactment of the Act.

The PAR Act amends the Internal Revenue Code to clarify rules for digital asset trading, including definitions and tax treatment.

The Providing Analogous Rules for Digital Assets Act (PAR Act) amends the Internal Revenue Code to introduce specific rules for digital asset trading. It defines terms such as "digital asset," "traded digital asset," and "wrapped digital asset." The act applies mark-to-market accounting rules to dealers and traders of covered digital assets. It also provides a safe harbor for digital asset trading and allows the Secretary to treat qualified U.S. dollar stablecoins as dollars. The changes apply to transfers made and taxable years beginning after the enactment of the Act.