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  2. Crypto bills in Congress
  3. S2207
S2207119th Congress·Introduced 2025-06-30

Is The Bill "A bill to amend the Internal Revenue Code of 1986 to reform the treatment of digital assets." Crypto Friendly?

Based on 1 published commentary, this bill is very pro-crypto.

Very Pro-Crypto
About this bill

This bill proposes several amendments to the Internal Revenue Code of 1986 to reform the tax treatment of digital assets. It defines digital assets, introduces a de minimis exemption for small gains from using crypto for purchases, and clarifies the tax treatment of digital asset lending, mining, and staking. The bill also extends wash sale rules to digital assets with an exception for stablecoins, and allows dealers and traders in digital assets to elect mark-to-market accounting. Additionally, it updates rules for charitable contributions of digital assets.

Introduced
2025-06-30
Status
Introduced and Sponsored
Legislature
119th Congress
Stance on Crypto
Very Pro-Crypto
From 1 published commentary

Scores reflect how a bill would affect crypto if enacted, from very anti-crypto to very pro-crypto, based on the commentary below.

Support in Congress
  • Sponsors2 Republicans2
  • Cosponsors6 Republicans6
Read the bill
Read on Congress.govView on GovTrackBill text (PDF)

Commentary

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Profile picture of DoTheySupportIt
DoTheySupportIt
Primary
marked this bill asVery Pro-Crypto

This bill is highly beneficial for the crypto industry, primarily by providing significant regulatory clarity and reducing tax friction for various activities. The de minimis exemption for personal transactions up to $300 (with an annual gain limit of $5,000) is a strong pro-crypto signal, as it removes the burdensome tax reporting requirement for everyday crypto use, encouraging broader adoption as a medium of exchange. Clarifying the tax treatment for digital asset lending agreements and allowing mark-to-market elections for professional traders aligns crypto with established financial practices, fostering institutional participation. The deferral of income recognition for mining and staking rewards until the asset is sold is a major positive, addressing a key pain point for participants by avoiding taxation on unrealized gains. The specific exception for payment stablecoins from wash sale rules is also a positive, recognizing their utility. Including actively traded digital assets for charitable contributions further legitimizes their status. While the temporary nature of these provisions through 2035 introduces some future uncertainty, the immediate clarity and favorable adjustments significantly enable lawful crypto activity, reduce ambiguity, and remove arbitrary regulatory risk.

Where Congress stands

Every member who has sponsored, cosponsored or voted on this bill. Pick a vote to see how each member voted on it, or narrow by party, name or state.

Sponsors

2

2 Republicans

  • Profile picture of Steve Daines
    Steve Daines
    Senator · MT
  • Profile picture of Cynthia Lummis
    Cynthia Lummis
    Senator · WY

Cosponsors

6

6 Republicans

  • Profile picture of Marsha Blackburn
    Marsha Blackburn
    Senator · TN
  • Profile picture of Bill Cassidy
    Bill Cassidy
    Senator · LA
  • Profile picture of John Cornyn
    John Cornyn
    Senator · TX
  • Profile picture of Cynthia Lummis
    Cynthia Lummis
    Senator · WY
  • Profile picture of Bernie Moreno
    Bernie Moreno
    Senator · OH
  • Profile picture of Tim Scott
    Tim Scott
    Senator · SC