XRP - TOKEN TAXONOMY ACT 2021 - Crypto Regulatory Clarity - with Rep. Warren Davidson



REP. WARREN DAVIDSON

Ohio - 8th Congressional District

Primary Sponsor of the Token Taxonomy ACT



House Website

https://davidson.house.gov/



Token Taxonomy ACT 2021 - HR 1628

https://www.congress.gov/bill/117th-c...



Financial Services and Ways & Means Committees



Summary Token Taxonomy ACT 2021:

To amend the Securities Act of 1933 and the Securities Exchange Act of 1934 to exclude digital tokens from the definition of a security, to direct the Securities and Exchange Commission to enact certain regulatory changes regarding digital units secured through public key cryptography, to adjust taxation of virtual currencies held in individual retirement accounts, to create a tax exemption for exchanges of one virtual currency for another, to create a de minimis exemption from taxation for gains realized from the sale or exchange of virtual currency for other than cash, and for other purposes.



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