releases: https://kustoff.house.gov/media/press-releases/congressman-david-kustoff-introduces-providing-analogous-rules-digital-assets
Data license: MIT · Data source: dwillis/congress-press
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| https://kustoff.house.gov/media/press-releases/congressman-david-kustoff-introduces-providing-analogous-rules-digital-assets | Congressman David Kustoff Introduces the Providing Analogous Rules for Digital Assets Act | 2026-06-09 | 2026 | 2026-06 | Republican | House | TN | David Kustoff | K000392 | kustoff.house.gov | kustoff | https://kustoff.house.gov/media/press-releases | scraper | WASHINGTON, D.C. — Congressman David Kustoff (R-TN-08) today announced the introduction of H.R. 9176, the Providing Analogous Rules for Digital Assets Act (PAR Act), legislation designed to modernize the Internal Revenue Code and ensure digital assets are treated consistently with comparable traditional financial instruments. “As digital assets continue to play an increasingly important role in the global economy, it is critical that the United States tax code keeps pace,” said Congressman Kustoff. “The PAR Act takes an important step toward creating a fair tax framework that supports innovation and competitiveness in the digital asset space.” “The tax code shouldn't pick winners and losers based on the type of asset someone owns,” said Ways and Means Committee Chairman Jason Smith (MO-08). “Today, taxpayers who use digital assets often face uncertainty because longstanding tax rules that apply to similar traditional assets don't clearly apply to them. The PAR Act brings greater fairness and consistency to the tax code by ensuring digital assets are treated more like comparable financial assets under existing rules. Representative Kustoff's legislation provides the clarity taxpayers deserve while helping keep investment, innovation, and jobs here in the United States.” The PAR Act establishes three provisions to align the tax treatment of digital assets with traditional financial assets: The bill modernizes existing tax rules for securities lending by extending them to traded digital assets. Lending these assets is treated like a straightforward loan rather than a taxable sale or exchange. It gives dealers and traders in covered digital assets the option to use a clear, well‑established mark‑to‑market accounting framework, aligning them with securities and commodities and providing more predictable, consistent tax treatment for active trading businesses. It strengthens the U.S. as a hub for digital asset activity by expanding the existing trading safe harbor so foreign investors can trade digital assets through U.S. intermediaries without being treated as engaged in a U.S. trade or business, encouraging that activity to stay in U.S. markets. In addition, the PAR Act establishes clear statutory definitions for key terms such as ‘digital asset,’ ‘traded digital asset,’ and ‘widely traded digital asset,’ promoting regulatory clarity while giving the Treasury Department targeted authority to prevent abuse and adjust these rules as market conditions evolve. The legislation applies prospectively and does not create inferences regarding the classification of digital assets under other areas of law or prior tax treatment. You can read the bill text here. ### | 1 | 2026-06-27T21:44:12Z | 2026-06-27T22:11:26Z |