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HR 7356 115th Congress House

Token Taxonomy Act

Official title: To amend the Securities Act of 1933 and the Securities Exchange Act of 1934 to exclude digital tokens from the definition of a security, to direct the Securiti… Show full official titleShow less

Official title: To amend the Securities Act of 1933 and the Securities Exchange Act of 1934 to exclude digital tokens from the definition of a security, to direct the Securities and Exchange Commission to enact certain regulatory changes regarding digital units secured through public key cryptography, to adjust taxation of virtual currencies held in individual retirement accounts, to create a tax exemption for exchanges of one virtual currency for another, to create a de minimis exemption from taxation for gains realized from the sale or exchange of virtual currency for other than cash, and for other purposes.

Introduced: December 20, 2018 Introduced by: Davidson, Warren Republican · Ohio See on congress.gov
Finance and Financial Sector Administrative law and regulatory proceduresBanking and financial institutions regulationCapital gains taxComputers and information technology
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CurrencyDigital mediaEmployee benefits and pensionsFederal Trade Commission (FTC)Federal preemptionFinancial services and investmentsFraud offenses and financial crimesIncome tax exclusionSecuritiesState and local government operationsTax administration and collection, taxpayers
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This bill died when the 115th Congress ended
It never became law before the 115th Congress (2017–2018) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 20, 2018
Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Dec 20, 2018
Introduced in House
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 Latest action December 20, 2018

Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

 Plain-English summary Congressional Research Service

Token Taxonomy Act

This bill specifies that digital tokens, such as those used in virtual currencies, are not securities for regulatory purposes. The bill also provides for the tax treatment of virtual currencies, including by excluding from gross income any gains from virtual currency transactions up to $600.

 Related & companion bills 1
  • HR 3708 Related bill To amend the Internal Revenue Code of 1986 to exclude from gross income de minimis gains from certain sales or exchange…
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Democratic 1
D
Soto, Darren
Florida · Dec 20, 2018
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 7356: Token Taxonomy Act. 115th Congress. Open America. https://openamerica.io/bill/115-HR-7356/
MLA
"H.R. 7356: Token Taxonomy Act." 115th Congress, 2026, Open America, https://openamerica.io/bill/115-HR-7356/.
Bluebook (legal)
H.R. 7356, 115th Cong. (2026), https://openamerica.io/bill/115-HR-7356/.
Markdown link
[H.R. 7356: Token Taxonomy Act](https://openamerica.io/bill/115-HR-7356/)
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