About the bill
The price of bitcoin has skyrocketed in recent weeks, more than tripling in the past month. Amid this unprecedented attention on the so-called “cryptocurrency,” the Cryptocurrency Tax Fairness Act was introduced and would potentially be the first enacted law on the subject.
What is bitcoin exactly?
Bitcoin is a digital-only currency and payment system, not relying on any physical manifestation such as bills or coins.
It was originally started by a few tech-minded libertarians who disdained the federal government’s monopoly on producing and controlling the supply of money. Now the system is gaining traction as a means of purchasing and selling goods — akin to the dollars and cents you already use, only with less government regulation/rules and far less possibility of inflation.
Although bitcoin began in 2009 ...
Sponsor and status
Sponsor. Representative for Arizona's 6th congressional district. Republican.
Last Updated: Sep 7, 2017
Length: 3 pages
115th Congress (2017–2019)
This bill was introduced on September 7, 2017, in a previous session of Congress, but it did not receive a vote.
Sep 7, 2017
Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.
H.R. 3708 (115th) was a bill in the United States Congress.
A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.
Bills numbers restart every two years. That means there are other bills with the number H.R. 3708. This is the one from the 115th Congress.
This bill was introduced in the 115th Congress, which met from Jan 3, 2017 to Jan 3, 2019. Legislation not enacted by the end of a Congress is cleared from the books.
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GovTrack.us. (2020). H.R. 3708 — 115th Congress: To amend the Internal Revenue Code of 1986 to exclude from gross income de minimis ... Retrieved from https://www.govtrack.us/congress/bills/115/hr3708
“H.R. 3708 — 115th Congress: To amend the Internal Revenue Code of 1986 to exclude from gross income de minimis ...” www.GovTrack.us. 2017. November 23, 2020 <https://www.govtrack.us/congress/bills/115/hr3708>
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, H.R. 3708, 115th Cong. (2017).
|title=H.R. 3708 (115th)
|accessdate=November 23, 2020
|author=115th Congress (2017)
|date=September 7, 2017
|quote=To amend the Internal Revenue Code of 1986 to exclude from gross income de minimis ...
Where is this information from?
GovTrack automatically collects legislative information from a variety of governmental and non-governmental sources. This page is sourced primarily from Congress.gov, the official portal of the United States Congress. Congress.gov is generally updated one day after events occur, and so legislative activity shown here may be one day behind. Data via the congress project.