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Clear Rules for Digital Assets: Tax Relief and Innovation Protection

This bill aims to clarify rules for digital assets like cryptocurrencies to foster their development in the U.S. It redefines 'broker' and delays reporting requirements, giving more time for compliance. The goal is to support innovation and provide clear guidelines for citizens using digital assets.
Key points
Revised 'broker' definition for digital assets: Applies only to those who effect sales at customers' direction, excluding software developers or 'miners'.
Delayed reporting obligations: Digital asset businesses and individuals will only need to report transactions after December 31, 2025, allowing more time to prepare.
Study on privacy and innovation impact: The government will analyze how expanding the definition of 'cash' to include digital assets affects citizen privacy and technological development.
Support for U.S. innovation: The aim is to keep digital technology development within the United States by providing clear and predictable rules.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_6006
Sponsor: Rep. McHenry, Patrick T. [R-NC-10]
Process start date: 2021-11-17
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Keep Innovation in America Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_6006.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-11-17.

What are the main provisions?

Key points include:

  • Revised 'broker' definition for digital assets: Applies only to those who effect sales at customers' direction, excluding software developers or 'miners'.
  • Delayed reporting obligations: Digital asset businesses and individuals will only need to report transactions after December 31, 2025, allowing more time to prepare.
  • Study on privacy and innovation impact: The government will analyze how expanding the definition of 'cash' to include digital assets affects citizen privacy and technological development.
  • Support for U.S. innovation: The aim is to keep digital technology development within the United States by providing clear and predictable rules.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. McHenry, Patrick T. [R-NC-10].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Taxes Economy