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From Grok (search):

"### Key Points

- The bill likely does not address Bitcoin or capital gains tax on cryptocurrencies, based on available analyses.

- Research suggests no explicit provisions for digital assets in tax sections.

- Controversy exists over fiscal impacts, but not specifically on cryptocurrency taxation.

#### Background

Trump's Big Beautiful Bill, or the One Big Beautiful Bill Act (H.R.1), focuses on tax cuts and policy changes, passed the House on May 22, 2025, and is under Senate debate as of June 29, 2025.

#### Findings

No direct mentions of Bitcoin, cryptocurrency, or digital assets in relation to capital gains tax were found in the bill's text or related analyses from sources like Tax Foundation and Reed Smith LLP.

#### Conclusion

It seems likely the bill does not include provisions for Bitcoin and capital gains tax, given the lack of specific references.

---

### Survey Note: Detailed Analysis of Bitcoin and Capital Gains Tax in Trump's Big Beautiful Bill

Trump's Big Beautiful Bill, officially titled the One Big Beautiful Bill Act (H.R.1), is a comprehensive legislative package central to President Donald Trump's second-term agenda in 2025. This section provides a detailed examination of whether the bill includes provisions related to Bitcoin and capital gains tax, based on official texts, analyses, and recent reports, as of June 29, 2025.

#### Overview and Purpose

The bill aims to deliver significant tax relief and economic benefits, including permanent extensions of the 2017 Trump Tax Cuts, increased standard deductions, and no taxes on tips and overtime for certain periods. Key components include spending reductions, particularly to Medicaid, and various policy changes for border security, energy, and healthcare. However, the focus here is on whether it addresses Bitcoin or cryptocurrency in the context of capital gains tax.

#### Legislative Text Analysis

The official text of H.R.1, available on [Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/1/text), was searched for keywords such as "Bitcoin," "cryptocurrency," "digital assets," and "capital gains tax." The search focused on Title XI, "COMMITTEE ON WAYS AND MEANS, 'THE ONE, BIG, BEAUTIFUL BILL'", particularly Subtitle A, "Make American Families and Workers Thrive Again", and Part 1, "Permanently Preventing Tax Hikes on American Families and Workers", which makes permanent several tax provisions from the 2017 Tax Cuts and Jobs Act.

No explicit references to Bitcoin, cryptocurrency, or digital assets were found in relation to capital gains tax. However, some sections have indirect relevance:

- **SEC. 110115**: Distributions from Trump accounts for qualified expenses are treated as net capital gain under section 1(h)(12). This could indirectly affect capital gains treatment for investments, including potentially digital assets, but is not specific to cryptocurrencies.

- **SEC. 111104**: Reinstates de minimis payment exceptions for third-party network transactions, with thresholds of $20,000 and 200 transactions (Section 6050W(e)), effective for calendar years after December 31, 2024. This could impact reporting for digital asset transactions but is not directly related to capital gains tax.

- **SEC. 111105**: Increases the information reporting threshold from $600 to $2,000, with inflation adjustments post-2026, for payments after December 31, 2025 (Section 6041(a)). This could affect reporting for digital asset payments, reducing compliance burden, but again, not specific to capital gains.

- **SEC. 112207**: Increases penalties for unauthorized disclosures to $250,000 or 10 years imprisonment, which could apply to digital asset transaction disclosures, enhancing enforcement, but not directly tied to capital gains tax.

These provisions suggest a general framework for tax reporting and penalties that could indirectly affect digital assets, but no specific rates or calculations for capital gains on Bitcoin were identified.

#### External Analyses and Reports

Several analyses of the bill were reviewed to ensure comprehensive coverage:

- The [Tax Foundation](https://taxfoundation.org/blog/one-big-beautiful-bill-pros-cons/) article discusses pros and cons, including fiscal impacts, but does not mention cryptocurrencies.

- [Reed Smith LLP](https://www.reedsmith.com/en/perspectives/2025/05/house-passes-beautiful-bill-act-summary-of-key-tax-provisions) notes the bill does not modify capital gain tax rates, corporate tax rates, or excise tax rates on stock buybacks, and no provisions concerning cryptocurrency taxation are mentioned.

- [Skadden, Arps, Slate, Meagher & Flom LLP](https://www.skadden.com/insights/publications/2025/05/the-one-big-beautiful-bill-act) provides an initial analysis of key tax proposals, focusing on corporate, international, and individual tax provisions, with no reference to digital assets.

- [Fidelity](https://www.fidelity.com/learning-center/personal-finance/one-big-beautiful-bill) explains provisions like Trump accounts, which have capital gains implications, but no mention of cryptocurrencies.

- [TaxAct](https://blog.taxact.com/one-big-beautiful-bill-act/) breaks down the bill's impact on taxpayers, with no discussion of digital assets.

These sources collectively suggest that the bill does not include provisions specifically addressing Bitcoin or capital gains tax on cryptocurrencies, aligning with the findings from the legislative text.

#### Detailed Provisions and Effective Dates

To provide context, here is a table summarizing key tax-related changes from SEC. 110001 to SEC. 110113, which do not directly mention cryptocurrencies but are part of the broader tax framework:

| **Section** | **Description** | **Effective Date** | **Relevant Details** |

|-------------|-----------------------------------------------------|--------------------------|------------------------------------------|

| SEC. 110001 | Modifies Section 199A for qualified business income | Tax years after 12/31/2025 | Increases rate from 20% to 23%, adjusts limitations |

| SEC. 110006 | Increases estate and gift tax exemption | Tax years after 12/31/2025 | Raises from $5M to $15M, effective 2026 |

| SEC. 110007 | Extends alternative minimum tax thresholds | Tax years after 12/31/2025 | Removes 2026 expiration, adjusts inflation |

| SEC. 110008 | Extends limitation on qualified residence interest | Tax years after 12/31/2025 | Removes 2026 expiration, effective 2018 onward |

| SEC. 110009 | Extends limitation on casualty loss deduction | Tax years after 12/31/2025 | Removes 2026 expiration, effective 2018 onward |

| SEC. 110010 | Terminates miscellaneous itemized deduction | Tax years after 12/31/2025 | Removes 2026 expiration, effective 2018 onward |

| SEC. 110011 | Limits tax benefit of itemized deductions | Tax years after 12/31/2025 | New calculation method, effective 2026 |

| SEC. 110012 | Terminates bicycle commuting reimbursement exclusion| Tax years after 12/31/2025 | Removes 2026 expiration, effective 2018 onward |

| SEC. 110013 | Extends limitation on moving expenses exclusion | Tax years after 12/31/2025 | Removes 2026 expiration, effective 2018 onward |

| SEC. 110014 | Extends limitation on wagering losses | Tax years after 12/31/2025 | Removes 2026 expiration, effective 2018 onward |

This table highlights the bill's focus on traditional tax provisions, with no direct relevance to digital assets.

#### Controversy and Stakeholder Reactions

While the bill has generated significant controversy over fiscal impacts, such as potential debt increases and Medicaid cuts, these debates do not specifically address cryptocurrency taxation. Critics, including Senator Mark Warner, have highlighted fiscal concerns, but analyses do not mention digital assets as a point of contention.

#### Conclusion

Based on the legislative text and external analyses, it seems likely that the One Big Beautiful Bill Act does not contain any provisions specifically addressing Bitcoin or capital gains tax on cryptocurrencies. The evidence leans toward the absence of such provisions, given the lack of direct references and the focus on traditional tax reforms. As of June 29, 2025, the bill is under Senate debate, and while amendments are possible, current information does not suggest changes related to digital assets.

#### Key Citations

- [Official Text of H.R.1 - One Big Beautiful Bill Act](https://www.congress.gov/bill/119th-congress/house-bill/1/text)

- [Tax Foundation Analysis of the Bill](https://taxfoundation.org/blog/one-big-beautiful-bill-pros-cons/)

- [Reed Smith LLP Summary of Key Tax Provisions](https://www.reedsmith.com/en/perspectives/2025/05/house-passes-beautiful-bill-act-summary-of-key-tax-provisions)

- [Skadden, Arps, Slate, Meagher & Flom LLP Analysis](https://www.skadden.com/insights/publications/2025/05/the-one-big-beautiful-bill-act)

- [Fidelity Explanation of Bill Provisions](https://www.fidelity.com/learning-center/personal-finance/one-big-beautiful-bill)

- [TaxAct Breakdown of Bill Impact](https://blog.taxact.com/one-big-beautiful-bill-act/)