Sec. 802. Information reporting requirements imposed on brokers with respect to crypto assets
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/bill/118/s/2281/is/section-802·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 6045(c)(1)(D) of the Internal Revenue Code of 1986 is amended to read as follows: any person who (for consideration) stands ready in the ordinary course of a trade or business to effect sales of crypto assets at the direction of their customers. . The amendment made by this subsection shall apply to returns required to be filed and statements required to be furnished after December 31, 2025. Section 6045(g)(3) of the Internal Revenue Code of 1986 is amended— in subparagraph (B)(iv), by striking digital asset and inserting crypto asset , in subparagraph (C), by striking clause
(iii)and inserting the following: January 1, 2025, in the case of any specified security which is a crypto asset, and , and by striking subparagraph
(D)and inserting the following: The term crypto asset has the meaning given such term in section 9801 of title 31, United States Code. . Section 6045A(d) of such Code is amended to read as follows: Any broker, with respect to any transfer (which is not part of a sale or exchange executed by such broker) during a calendar year of a covered security which is a crypto asset (as defined in section 9801 of title 31, United States Code) from an account wholly controlled and maintained by such broker to an account which is not maintained by, or an address not associated with, a person that such broker knows or has reason to know is also a broker, shall make a return for such calendar year, in such form as determined by the Secretary, showing the information otherwise required to be furnished with respect to transfers subject to subsection (a). Information reported by brokers under this section shall be limited to customer information that is voluntarily provided by the customer and held by the broker for a legitimate business purpose. . Section 6050I(d) of such Code is amended— in paragraph (1), by adding and at the end, in paragraph (2), by striking , and and inserting a period, and by striking paragraph (3). Section 80603(c) of the Infrastructure Investment and Jobs Act is amended by striking December 31, 2023 and inserting December 31, 2025 . The amendments made by paragraphs
(1)and
(2)shall apply to returns required to be filed and statements required to be furnished after December 31, 2025. The amendments made by paragraph
(3)shall take effect as if included in the enactment of section 80603 of the Infrastructure Investment and Jobs Act.