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[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6180 Introduced in House (IH)]
<DOC>
119th CONGRESS
1st Session
H. R. 6180
To allow Federal taxes to be paid in Bitcoin, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
November 20, 2025
Mr. Davidson introduced the following bill; which was referred to the
Committee on Ways and Means, and in addition to the Committee on
Financial Services, for a period to be subsequently determined by the
Speaker, in each case for consideration of such provisions as fall
within the jurisdiction of the committee concerned
_______________________________________________________________________
A BILL
To allow Federal taxes to be paid in Bitcoin, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE; FINDINGS.
(a) Short Title.--This Act may be cited as the ``Bitcoin for
America Act''.
(b) Findings.--Congress finds the following:
(1) Bitcoin operates on a decentralized, open-source
protocol with a fixed supply cap of 21 million coins, creating
inherent scarcity that contrasts sharply with fiat currencies;
historical data shows that Bitcoin's value has increased
dramatically since its 2009 inception, exceeding the compound
annual growth rates of traditional assets as a direct result of
its deflationary design.
(2) By authorizing the acceptance of Federal income taxes
in Bitcoin and the deposit of such funds into the Strategic
Bitcoin Reserve, the United States will diversify its national
wealth into a non-inflationary asset that serves as a long-term
store of value, thereby strengthening the Nation's financial
resilience against currency devaluation, economic instability,
and global market volatility.
(3) Other nations--including but not limited to China,
Russia, and emerging economies--actively acquire Bitcoin to
diversify their reserves and hedge against global financial
instability, such that the United States risks falling behind
in this strategic race; authorizing the incorporation of
Bitcoin into the United States Strategic Bitcoin Reserve
through tax revenues would bolster the Nation's global
competitiveness and safeguard national security by securing a
stake in a decentralized, geopolitically neutral asset immune
to sanctions or external interference.
(4) Bitcoin's permissionless nature enables individuals to
participate in the global economy without reliance on
traditional banking systems, which often exclude underserved
populations; by enabling the payment of Federal income taxes in
Bitcoin, the United States promotes financial inclusion,
empowering citizens to engage in a modern, decentralized
economy.
(5) The value of the United States dollar is influenced by
monetary policies, including quantitative easing and interest
rate adjustments, which have historically led to inflation and
reduced purchasing power; Bitcoin, being free from such
interventions, offers a stable alternative for preserving
wealth, and the establishment and maintenance of the Strategic
Bitcoin Reserve would mitigate risks associated with fiat
currency devaluation, ensuring the United States maintains
economic strength in an increasingly digital and decentralized
global economy.
(6) Bitcoin's value is expected to appreciate due to its
scarcity and growing adoption, such that revenues deposited
into the United States Bitcoin Strategic Reserve would increase
in real value over time, creating a self-sustaining fiscal
mechanism that reduces reliance on debt-based financing,
enhances the Nation's balance sheet, and provides a robust
financial foundation for future generations.
SEC. 2. PAYMENT OF FEDERAL TAXES WITH BITCOIN.
(a) In General.--Subchapter B of chapter 64 of the Internal Revenue
Code of 1986 is amended by adding at the end the following new section:
``SEC. 6318. PAYMENT WITH BITCOIN.
``(a) Authority.--The Secretary shall allow taxpayers to pay the
taxes (and any penalty, addition to tax, or other amount) imposed under
this title with Bitcoin.
``(b) Manner of Payment.--For purposes of this title, a payment of
any amount with Bitcoin shall be deemed made--
``(1) if the taxpayer irrevocably transfers Bitcoin--
``(A) to a Bitcoin network address designated by
the Secretary, or
``(B) to an address or account of an entity
designated by the Secretary to act as a financial agent
under subsection (e), in accordance with procedures
prescribed by the Secretary, and
``(2) at the time that the transfer described in paragraph
(1) has obtained the level of network confirmations specified
by the Secretary.
The Secretary may prescribe rules regarding required network
confirmations and proof of transfer.
``(c) Valuation.--The amount of any payment made with Bitcoin shall
be the fair market value of the Bitcoin at the time the payment is
deemed made under subsection (b). The Secretary shall prescribe
regulations that establish and publish one or more reference rates for
determining such fair market value, similar to the foreign currency
exchange rates published for Federal tax purposes.
``(d) Nonrecognition.--No gain or loss shall be recognized by a
taxpayer on the transfer of Bitcoin to the United States (including to
a financial agent of the United States acting pursuant to subsection
(e)) in satisfaction of any liability imposed by this title. A transfer
described in the preceding sentence shall not be treated as a sale or
exchange for purposes of section 1001. Nonrecognition under this
subsection shall apply only to the portion of any transfer not
exceeding the amount of the liability satisfied thereby, determined
using the fair market value under subsection (c). Any amount
transferred in excess of such liability shall be treated as a
disposition for purposes of section 1001.
``(e) Third-Party Financial Agents.--The Secretary may enter into
contracts or other arrangements with regulated financial institutions
chartered or licensed under United States law and subject to the Bank
Secrecy Act and applicable Office of Foreign Assets Control (OFAC)
requirements to act as the Secretary's financial agents to receive
custody, convert (if and as directed by the Secretary), and remit
Bitcoin tendered under this section. Agents shall comply with
applicable Treasury, Internal Revenue Service, and financial regulatory
standards.
``(f) Information Reporting and Guidance.--The Secretary may
prescribe such regulations or other guidance as are necessary or
appropriate to carry out the purposes of this section, including rules
for documentation, receipts, timing and source of valuation, acceptable
exchanges and price feeds, required network confirmations, and
information reporting by payors and agents.
``(g) Basis and Lot Selection.--
``(1) In general.--In the case of a taxpayer that holds
more than one lot of Bitcoin, the taxpayer may designate which
lot or lots of Bitcoin are treated as transferred in a
transaction described in subsection (d), in such form and
manner and at such time as the Secretary may prescribe.
``(2) Permissible methods.--The Secretary shall prescribe
regulations that allow taxpayers to determine which lot or lots
are treated as transferred using one or more permissible
methods including specific identification, first-in first-out,
last-in first-out, highest cost in first-out, or other methods
similar to those allowed under section 1012 and the regulations
thereunder. The regulations shall provide rules for elections,
changes in method, and default ordering when a taxpayer does
not make a designation.
``(3) Basis.--The adjusted basis of the lots of Bitcoin
treated as transferred under this section shall be removed from
the taxpayer's aggregate basis in Bitcoin held, and the basis
and holding period of any remaining Bitcoin shall be determined
without regard to any gain or loss not recognized under
subsection (d).''.
(b) Clerical Amendment.--The table of sections for subchapter B of
chapter 64 of such Code is amended by adding at the end the following
new item:
``Sec. 6318. Payment with Bitcoin.''.
(c) Effective Date.--The amendments made by this section shall
apply to payments made after the date of the enactment of this Act.
SEC. 3. STRATEGIC BITCOIN RESERVE AND CUSTODY AUTHORITY.
(a) Establishment.--Any Bitcoin received by the Secretary as a
payment under the Internal Revenue Code of 1986 shall be deposited by
the Secretary in a Strategic Bitcoin Reserve (referred to in this Act
as the ``Reserve'').
(b) Custody and Management.--The Secretary is authorized to--
(1) accept, hold, and aggregate Bitcoin received under
Federal law or acquired through lawful means on behalf of the
United States,
(2) establish such custody, storage, and security
arrangements for the Reserve as the Secretary determines
appropriate, including cold storage, multi-signature
arrangements, and geographically distributed storage
facilities, and
(3) manage such holdings with discretion, subject to
applicable law, to ensure long-term safekeeping and security.
(c) Long-Term Retention.--Bitcoin deposited in the Reserve shall be
held for the long-term benefit of the United States. The Secretary may
not sell, swap, or otherwise dispose of Bitcoin held in the Reserve
except--
(1) in accordance with a schedule providing that no more
than one-twentieth of the total holdings may be disposed of in
any one-year period, and
(2) only after the 20-year period beginning on the date
such Bitcoin was received or acquired by the United States.
(d) Reporting and Oversight.--The Secretary shall publish an annual
public report describing--
(1) the total Bitcoin holdings of the United States, and
(2) the custody and security arrangements of the Reserve.
(e) Secretary.--For purposes of this section, the term
``Secretary'' means the Secretary of the Treasury or the Secretary's
delegate.
<all>
Introduced in House
Introduced in House
Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
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