,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #efce  ,,in ,,the ,,house ,,of  
,,representatives  ,january #af1        
#bjbj,ms4 ,del,bene 7for herself1 ,mr4  
,schweikert1 ,mr4 ,soto1 and ,mr4       
,emmer7 introduced the following bill2  
which was referred to the ,committee on 
,ways and ,means  ,a ,,bill  ,to amend  
the ,internal ,revenue ,code of #aihf to
 exclude from gross income gain from    
disposition of virtual currency in a    
personal transaction4  #a4 ,short title 
,this ,act may be cited as the ,virtual 
,currency ,tax ,fairness ,act of #bjbj4 
#b4 ,virtual currency  7a7 ,in general  
,part ,,iii of subchapter ,b of chapter 
#a of the ,internal ,revenue ,code of   
#aihf is amended by inserting after     
section #aci;,f the following new       
section3  #aci;,g4 ,gain from           
disposition of virtual currency  7a7 ,in
 general ,gross income of an individual 
shall not include gain1 by reason of    
changes in exchange rates1 from the     
disposition of virtual currency in a    

personal transaction 7as such term is   
defined in section #ihh7;e774 ,the      
preceding sentence shall not apply if   
the gain which would otherwise be       
recognized on the transaction exceeds   
#bjj4  7b7 ,virtual currency ,for       
purposes of this section1 the term      
virtual currency means a digital        
representation of value that is used as 
a medium of exchange and is not         
otherwise currency under section #ihh4  
4  7b7 ,clerical amendment ,the table of
 sections for part ,,iii of subchapter  
,b of chapter #a of such ,code is       
amended by inserting after the item     
relating to section #aci;,f the         
following new item3  ,sec4 #aci;,g4     
,gain from disposition of virtual       
currency4  4  7c7 ,reporting of gains or
 losses ,the ,secretary shall issue     
regulations providing for information   
returns on virtual currency transactions
 for which gain or loss is recognized4  
7d7 ,effective date ,the amendments made
 by this section shall apply with       

respect to transactions entered into    
after ,december #ca1 #bjai4