Ask AI
Bill113th CongressFiled May 7, 2014Taxation
H.R. 4602

Virtual Currency Tax Reform Act

Bill journey · stage 2 of 5

Under committee review

Filed
Comm.
Floor
Both
Law

What it doesSummary introduced in house (May 7, 2014)

Virtual Currency Tax Reform Act - Directs the Internal Revenue Service (IRS) to treat virtual currencies as a foreign currency for federal tax purposes. Defines "virtual currency" as a digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value.

Imposes a five-year moratorium on any capital gains tax on virtual currencies.

What just happenedMay 7, 2014

Referred to the House Committee on Ways and Means.

Who’s behind it

Rep. Stockman, Steve [R-TX-36](R-TX)Sponsor
Read on Congress.gov
1committees3actions4subjects
  • Introduced in HouseMay 7, 2014
  1. May 7, 2014IntroReferralH11100

    Referred to the House Committee on Ways and Means.

  2. May 7, 2014IntroReferralIntro-H

    Introduced in House

  3. May 7, 2014IntroReferral1000

    Introduced in House

Virtual Currency Tax Reform Act — Informed