A bill to amend the Internal Revenue Code of 1986 to reform the treatment of digital assets.

This bill would overhaul how the federal tax system treats digital assets (cryptocurrencies and similar tokens). Key changes include a broad definition of what counts as a digital asset, a new de minimis exclusion for small, personal-use purchases made with digital assets, and specific rules for digital asset lending, wash sales, and mining/staking activities. It also extends a mark-to-market option to dealers and traders in digitally traded assets, broadens charitable contribution rules to include actively traded digital assets, and provides targeted rules around the taxation of stablecoins and related instruments. Most provisions carry sunset timing, expiring after December 31, 2035, and several provisions take effect for transactions after December 31, 2025. Overall, the bill aims to treat digital assets more like financial instruments in some contexts (through lending, wash sales, and MTM), while providing tax incentives and deferrals in others (mining/staking income deferral, personal-use purchases, and certain charitable transfers).