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S. 4608 117th Congress Senate

Virtual Currency Tax Fairness Act

Official title: A bill 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.

Introduced: July 26, 2022 See on congress.gov
Taxation Computers and information technologyCurrencyDigital mediaIncome tax exclusion
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) 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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 28, 2022
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-859.
Jul 26, 2022
Read twice and referred to the Committee on Finance.
Jul 26, 2022
Introduced in Senate
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 Latest action July 28, 2022

Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-859.

 Plain-English summary Congressional Research Service

Virtual Currency Tax Fairness Act

This bill excludes from gross income, for income tax purposes, a limited amount of gain from the sale or exchange of virtual currency, unless such sale or exchange is for cash or cash equivalents, property used in the active conduct of a trade or business, or property held for the production of income. The exclusion does not apply if the total value of the sale or exchange exceeds $50, or the total gain exceeds $50 (both amounts adjusted annually for inflation).

The bill defines virtual currency as a digital representation of value that functions as a unit of account, a store of value, or a medium of exchange, and is not a representation of the U.S. dollar or any foreign currency.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
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APA
U.S. Congress. (2026). S. 4608: Virtual Currency Tax Fairness Act. 117th Congress. Open America. https://openamerica.io/bill/117-S-4608/
MLA
"S. 4608: Virtual Currency Tax Fairness Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-4608/.
Bluebook (legal)
S. 4608, 117th Cong. (2026), https://openamerica.io/bill/117-S-4608/.
Markdown link
[S. 4608: Virtual Currency Tax Fairness Act](https://openamerica.io/bill/117-S-4608/)
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