,i #aag? ,,congress #a/ ,session ,h4 ,r4 #fjjf ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,novemb] #ag1 #bjba,mr4 ,mc,henry 7= himself1 ,mr4 ,ryan1 ,mr4 ,brady1 ,mr4 ,khanna1 ,mr4 ,emm]1 ,mr4 ,swalwell1 ,mr4 ,davidson1 ,mr4 ,soto1 ,mr4 ,gonzalez ( ,ohio1 & ,mr4 ,budd7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,ways & ,means ,a ,,bill ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf to cl>ify ! def9ition ( brok]1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,keep ,innovation 9 ,am]ica ,act4 #b4 ,cl>ification ( def9ition ( brok] 7a7 ,9 g5]al ,section #fjde7;c77#a77;,d7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ to read z foll[s3 7,d7 any p]son :o 7= consid]ation7 /&s ready 9 ! ord9>y c\rse ( a trade or bus9ess to effect sales ( digital assets at ! direction ( _! cu/om]s4 4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to returns requir$ to be fil$ & /atem5ts requir$ to be furni%$ aft] ,decemb] #ca1 #bjbe4 #c4 ,report+ ( digital assets 7a7 ,brok]s 7#a7 ,def9ition ( digital asset ,section #fjde7;g77#c77;,d7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ to read z foll[s3 7,d7 ,digital asset ,! t]m digital asset means any digital repres5tation ( value :i* is record$ on a cryptographically secur$ di/ribut$ l$g]4 4 7#b7 ,applicable date ,section #fjde7;g77#c77;,c77iii7 ( su* ,code is am5d$ to read z foll[s3 7iii7 ,janu>y #a1 #bjbe1 9 ! case ( any specifi$ security :i* is a digital asset1 & 4 7b7 ,furni%+ ( in=mation ,section #fjde;,a7d7 ( su* ,code is am5d$ to read z foll[s3 7d7 ,return requirem5t = c]ta9 transf]s ( digital assets n o!rwise subject to report+ ,any brok]1 ) respect to any transf] 7:i* is n "p ( a sale or ex*ange execut$ by su* brok]7 dur+ a cal5d> ye> ( a cov]$ security :i* is a digital asset f an acc\nt :olly controll$ & ma9ta9$ by su* brok] to an acc\nt :i* is n ma9ta9$ by1 or an address n associat$ )1 a p]son t su* brok] kn[s or has reason to "k is also a brok]1 %all make a return = su* cal5d> ye>1 9 su* =m z det]m9$ by ! ,secret>y1 %[+ ! in=mation o!rwise requir$ to be furni%$ ) respect to transf]s subject to subsection 7a74 ,in=mation report$ by brok]s "u ?is section %all be limit$ to cu/om] in=mation t is volunt>ily provid$ by ! cu/om] & held by ! brok] = a legitimate bus9ess purpose4 4 7c7 ,delay$ effective date = c]ta9 in=mation report+ *anges2 rev]sal ( c]ta9 additions to #fjej;,i ,section #hjfjc ( ! ,infra/ructure ,inve/m5t & ,jobs ,act is am5d$-- 7#a7 by /rik+ subsection 7b77#c71 & 7#b7 9 subsection 7c71 by /rik+ ,decemb] #ca1 #bjbc & ins]t+ ,decemb] #ca1 #bjbe4 7d7 ,effective dates 7#a7 ,! am5dm5ts made by subsections 7a7 & 7b7 %all apply to returns requir$ to be fil$ & /atem5ts requir$ to be furni%$ aft] ,decemb] #ca1 #bjbe4 7#b7 ,! am5dm5t made by subsection 7c7 %all take effect z if includ$ 9 ! enactm5t ( section #hjfjc ( ! ,infra/ructure ,inve/m5t & ,jobs ,act4 #d4 ,/udy & report on treatm5t ( digital assets z ca% = purposes ( section #fjej;,i 7a7 ,/udy ,! ,secret>y1 9 consultation ) repres5tatives ( ! digital asset indu/ry1 organizations focus$ on individual privacy & civil lib]ties1 organizations engag$ 9 advocacy1 rese>* or develop+ /&>ds relat+ to digital asset use1 %all conduct a /udy on ! effect ( exp&+ ! def9ition ( ca%1 solely = purposes ( section #fjej;,i ( ! ,int]nal ,rev5ue ,code ( #aihf1 to include any digital asset 7z def9$ 9 section #fjde7;g77#c77;,d7 ( su* ,code74 7b7 ,report ,n lat] ?an #cfe days aft] ! date ( ! enactm5t ( ?is ,act1 ! ,secret>y %all provide to relevant committees a report t conta9s all f9d+s & det]m9ations made 9 c>ry+ out ! /udy "u subsection 7a71 includ+ an analysis (-- 7#a7 ! int]pretation (1 regulations "u1 & en=cem5t ( section #fjej;,i = ca%1 7#b7 ! privacy & lib]ty rights & int]e/s ( taxpay]s & o!r p]sons affect$1 7#c7 ! co/-b5efit analysis ( compliance1 7#d7 ! effect on ! use ( & access to digital assets & ! f9ancial sy/em1 7#e7 ! effect on innovation1 & 7#f7 ! effect on ! economic competitiv5ess ( ! ,unit$ ,/ates4 7c7 ,def9itions ,= purposes ( ?is section-- 7#a7 ,relevant committees ,! t]m relevant committees means-- 7,a7 ! ,committee on ,f9ancial ,s]vices ( ! ,h\se ( ,repres5tatives1 7,b7 ! ,committee on ,bank+1 ,h\s+1 & ,urban ,affairs ( ! ,s5ate1 7,c7 ! ,committee on ,ways & ,means ( ! ,h\se ( ,repres5tatives1 & 7,d7 ! ,committee on ,f9ance ( ! ,s5ate4 7#b7 ,secret>y ,! t]m ,secret>y means ! ,secret>y ( ! ,treasury 7or ! ,secret>y's delegate74 #e4 ,f9d+s ,congress f9ds ! foll[+3 7#a7 ,advances 9 te*nology h l$ to ! creation ( digital assets & block*a9 te*nology t w improve ! ,unit$ ,/ates f9ancial sy/em & create a m fair & equitable /ructure = ev]yday ,am]icans4 7#b7 ,! report+ requirem5ts "u curr5t law require digital asset m>ket p>ticipants to adh]e to /&>ds t are incompatible ) ?is te*nology's op]ation4 ,?is w h9d] ! developm5t ( digital assets & its und]ly+ te*nology 9 ! ,unit$ ,/ates1 %ift+ its developm5t outside ! ,unit$ ,/ates4 7#c7 ,! ,*9ese ,gov]nm5t's rec5t ban ( cryptocurr5cy transactions provides ! ,unit$ ,/ates an op5+ to fur!r enhance its role z ! lead+ nation 9 ! developm5t ( innovative block*a9 te*nologies4 ,provid+ cle> rules = bo? consum]s & develop]s ( digital assets is ess5tial to tak+ advantage ( ?is opportunity4 7#d7 ,m9]s & validators1 h>dw>e & s(tw>e develop]s1 & protocol develop]s are n actual brok]s & d n collect or h reason to collect ! in=mation requir$ "u ! ,infra/ructure ,inve/m5t & ,jobs ,act4 7#e7 ,x is n 9 ! int]e/ ( ,am]ican taxpay]s = ,congress to create unc]ta9ty4 7#f7 ,consi/5t & accurate report+ on digital asset transactions is necess>y4 ,congress mu/ "w to br+ legal & regulatory c]ta9ty to ! digital asset indu/ry4 ,cle> rules ( ! road fo/]s te*nology & innovation4 7#g7 ,any am5dm5ts made by ?is ,act w n impact rev5ue e/imat$ f ! ,infra/ructure ,inve/m5t & ,jobs ,act4