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- H.R.3708
H.R.3708: To amend the Internal Revenue Code of 1986 to exclude from gross income de minimis gains from certain sales or exchanges of virtual currency, and for other purposes.
About This Bill
- Introduced Sept. 7, 2017
- Latest Major Action Sept. 7, 2017
Bill Sponsor
Bill Cosponsors
5 (1 Democrat, 4 Republicans)
Bill Version
- Introduced in House - Sept. 7, 2017
Bill Summary
This bill amends the Internal Revenue Code (IRC) to exclude from gross income up to $600 (adjusted for inflation after 2018) in gain from the sale or exchange of virtual currency for other than cash or cash equivalents. "Virtual currency" is a digital representation of value that is used as a medium of exchange and is not otherwise currency under provisions of the IRC related to foreign currency transactions.
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
| Sept. 7, 2017 |
Referred to the House Committee on Ways and Means.
|
| Sept. 7, 2017 |
Introduced in the House by David Schweikert (R-Ariz.) |