I
116th CONGRESS
1st Session
H. R. 3963
IN THE HOUSE OF REPRESENTATIVES
July 25, 2019
Mr. Budd introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to allow exclusion of gain or loss on like-kind exchanges of virtual currency.
Short title
This Act may cited as the Virtual Value Tax Fix Act of 2019
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Exclusion for like-kind exchanges of virtual currency
In general
Section 1031 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection:
Special rule for virtual currency
In general
For purposes of this section, the exchange of virtual currency for virtual currency of like kind shall be treated in the same manner as the exchange of real property for real property of like kind.
Termination
Paragraph (1) shall not apply with respect to any exchange completed after December 31, 2024.
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Effective date
The amendments made by this section shall apply with respect to exchanges completed after the date of the enactment of this Act.
