U.S. Congress legislation · 119th Congress
SB5616: ADAPT Act
Status: In committee, September 30, 2026
A bill to amend the Internal Revenue Code of 1986 to reform the treatment of digital assets.
What the bill says
To amend the Internal Revenue Code of 1986 to reform the treatment of digital assets.
From the introduced text, September 30, 2026:
A BILL To amend the Internal Revenue Code of 1986 to reform the treatment of digital assets. SECTION 1. Short title; etc (a) Short title This Act may be cited as the Aligning Digital Assets with Principles of Taxation Act or the ADAPT Act . (b) Table of contents The table of contents of this Act is as etc. Sec. 2. Nonrecognition of gain or loss on certain sales, exchanges, or dispositions of stablecoins. Sec. 3. Mark to market election. Sec. 4. Source rules for digital asset validation activities. Sec. 5. Certain trading in digital assets not treated as a trade or business within the United States. Sec. 6. Transfer of digital assets under certain agreements. Sec. 7. Application of wash sale rules to digital assets. Sec. 8. Treatment of trusts and publicly traded partnerships holding digital assets. Sec. 9. Application of constructive sale rules to digital assets. Sec. 10. Charitable contributions of widely traded digital assets. Sec. 11. Treatment of de minimis digital asset network fees. Sec. 12. Treatment of income from qualified digital asset validation activity by tax-exempt entities. Sec. 13. Application of registration-required obligation rules. Sec. 14. Treatment of certain foreign entities established in connection with decentralized autonomous organizations. Sec. 15. Definitions. SECTION 2. Nonrecognition of gain or loss on certain sales, exchanges, or dispositions of stablecoins …
Sponsors
- Daines, Steve (R) · primary sponsor
- Lummis, Cynthia (R)
- Moreno, Bernie (R)
- Scott, Tim (R)
Latest actions
- : Read twice and referred to the Committee on Finance.
- : Introduced in Senate
Subjects: Taxation
Common questions
- What is SB5616?
- SB5616 is a bill in Congress (119th Congress): ADAPT Act.
- What does SB5616 do?
- In its own words: To amend the Internal Revenue Code of 1986 to reform the treatment of digital assets.
- What is the status of SB5616?
- In committee as of September 30, 2026. Latest action: Read twice and referred to the Committee on Finance. (September 30, 2026).
- Who sponsored SB5616?
- Daines, Steve (R), with 3 co-sponsors.
- Where is the official record for SB5616?
- On the Congress website: https://www.congress.gov/bill/119th-congress/senate-bill/5616
Source: official Congress record. Tracked by Delilah, AI for legislation across all 50 states and Congress.