A bill to amend the Internal Revenue Code of 1986 to reform the treatment of digital assets.
Revises the federal tax code's treatment of digital assets.
In the Senate Finance Committee since Sept. 30, 2026, 5 days after it was introduced. Most bills never leave committee.
- INTRODUCEDINTROSEP 30, 2026
- COMMITTEECOMM.IN COMMITTEE
- SENATESENATE—
- HOUSEHOUSE—
- LAWLAW—
What the bill would do, and why it matters
Digital assets can have tax consequences for the people and organizations that use or hold them. S. 5616 would change how the federal tax code treats digital assets.
- INTRODUCED ONLY This bill has been introduced and possibly referred to a committee, but it has not passed any vote. Most introduced bills never become law — they die in committee without a hearing.
- FULL TEXT UNAVAILABLE Congress.gov has not posted the full bill text yet. The analysis is based on the title and metadata only and may miss substantive provisions.
- DATA NOTE No Congressional Research Service summary was available.
- Revises digital asset tax rules
Would amend the Internal Revenue Code's rules for the tax treatment of digital assets.
Tax treatment can affect what taxpayers owe and how they report digital-asset activity. Changing the tax code could alter those obligations.
Written from the official record.
The path it took, step by step
- IntroducedSEP 30, 2026SENATESEP 30, 2026By Sen. Daines with 3 original cosponsorsReferred to Finance
- SAME DAYNOWSenate committeeSEP 30, 2026FINANCE NOWSEP 30, 2026In committee for 5 daysNo hearing yet
- 5 DAYS SO FARPassed the Senate—SENATE FLOOR—Not scheduled
- House committee—HOUSE—
- Passed the House—HOUSE FLOOR—Not scheduled
- Resolve differencesONLY IF NEEDEDBOTH CHAMBERSONLY IF NEEDEDSkipped if the other chamber passes the same text
- Signed into law—PRESIDENT—10 days to sign or veto
- SEP 302026SEP 30, 2026REFERREDRead twice and referred to the Committee on Finance.
- SEP 302026SEP 30, 2026INTRODUCEDSENATEIntroduced in Senate
At day 5, this bill is already older than 3% of the laws passed this Congress were when they were signed.
Where your members stand on it
A coalition from 3 states
Plus the sponsor, a Republican. Every cosponsor is from one party.
Plus the sponsor, a Republican. Every cosponsor is from one party.
Sen. Daines’s record: sponsored 66 bills this Congress. 15 passed the Senate; 1 became law.
- Cynthia M. LummisR-WYORIGINAL
- Bernie MorenoR-OHORIGINAL
- Tim ScottR-SCORIGINAL
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Discussion
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