SB5616: ADAPT Act Aligning Digital Assets with Principles of Taxation Act
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
A bill to amend the Internal Revenue Code of 1986 to reform the treatment of digital assets.
Plain-language summary
The ADAPT Act would change how the federal government taxes digital assets like cryptocurrency. The bill aims to reform rules in the Internal Revenue Code, which is the main tax law. It has been introduced in Congress by four sponsors but has not yet been assigned to a for review. The specific changes proposed are not detailed in the available information.
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SB5616: ADAPT Act Aligning Digital Assets with Principles of Taxation Act
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Sponsors
Steve Daines
Primary SponsorCo-sponsors (3)
Cynthia Lummis
Bernie Moreno
Tim Scott