To amend the Internal Revenue Code of 1986 to clarify the tax treatment of digital asset rewards.

“92. Digital asset rewards

“(a) In general—If, pursuant to a blockchain consensus mechanism with respect to any digital asset, a person acquires (directly, or indirectly through a service provider) a reward of a digital asset—

“(1) no income or gain shall result at the time of such acquisition, and

“(2) on the disposition of such digital asset in any taxable year, the income or gain (if any) with respect to such asset shall be the income or gain, as the case may be, from the disposition for such taxable year.

“(b) Definitions—For purposes of this section—

“(1) Digital asset—The term “digital asset” shall have the meaning given such term under section 6045(g)(3)(D).

“(2) Blockchain consensus mechanism—The term “blockchain consensus mechanism” means, with respect to any digital asset, a process by which a person commits resources in connection with validating the legitimacy of transactions and related entries in the cryptographically secured distributed ledger to which such digital asset relates.”