Sponsored a bill on
- Bill
- Applying Existing Tax Anti-Abuse Rules to Digital Assets Act
- Details
- This legislation amends the Internal Revenue Code to apply wash sale and constructive sale rules to digital assets, closing tax loopholes that currently allow investors to immediately repurchase sold assets. The bill excludes qualified U.S. dollar stablecoins from these rules and provides a specific exception for digital assets acquired through transaction validation activities, such as mining and staking. It also establishes standardized definitions for digital assets, wrapped assets, and stablecoins.
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