A bill to amend the Internal Revenue Code of 1986 to reform the treatment of digital assets.
Latest action (30 Sep 2026): Introduced
What this bill does
This bill, S. 5616, has been introduced in the U.S. Senate. Its stated purpose is to reform how digital assets are treated for tax purposes under the Internal Revenue Code of 1986. The specific changes proposed are not yet publicly available as the full text of the bill has not been published.
Once the bill's provisions are released, it will become clearer which individuals and entities deal with digital assets might be affected, and in what ways, by the proposed tax reforms.
Currently, S. 5616 is in the introductory phase of the legislative process. Having been introduced by Senator Steve Daines on September 30, 2026, it will now proceed through the Senate's committee system for review and potential amendment.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Official summary
This bill is in the first stage of the legislative process. It was introduced into Congress on September 30, 2026. It will typically be considered by committee next before it is possibly sent on to the House or Senate as a whole.
Common questions
- What does S. 5616 do?
- This bill, S. 5616, has been introduced in the U.S. Senate. Its stated purpose is to reform how digital assets are treated for tax purposes under the Internal Revenue Code of 1986. The specific changes proposed are not yet publicly available as the full text of the bill has not been published. Once the bill's provisions are released, it will become clearer which individuals and entities deal with digital assets might be affected, and in what ways, by the proposed tax reforms. Currently, S. 5616 is in the introductory phase of the legislative process. Having been introduced by Senator Steve Daines on September 30, 2026, it will now proceed through the Senate's committee system for review and potential amendment.
- Has S. 5616 become law?
- Not yet. As of 30 Sep 2026, S. 5616 is introduced.
- Who sponsored S. 5616?
- S. 5616 was sponsored by Sen. Steve Daines [R-MT] (Republican-MT), with 0 cosponsors.
- What's the latest action on S. 5616?
- Introduced (30 Sep 2026).
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