Cameron’s Law

House Bill

H.R. 1414

119th Congress

Cameron’s Law

In Committee

Introduced:Oct 21, 2025

Primary Sponsor

Chellie Pingree

Representative

Democratic

ME-1

Cosponsors

11

Quick Stats

Policy Area

Taxation

Summary

This bill aims to modify the definitions of 'broker' and 'digital asset' related to tax reporting requirements for the cryptocurrency industry. It narrows the definition of 'broker' and removes the requirement to report cash transactions of over $10,000 in digital assets, while requiring the Treasury Department to study expanding the definition of 'cash' to include digital assets.

Latest Action

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.

AI Summary

Plain-English explanation of this bill

This bill aims to modify the definitions of 'broker' and 'digital asset' related to tax reporting requirements for the cryptocurrency industry. It narrows the definition of 'broker' and removes the requirement to report cash transactions of over $10,000 in digital assets, while requiring the Treasury Department to study expanding the definition of 'cash' to include digital assets.

Last updated: 12/29/2025

Official Summary

Congressional Research Service summary

Keep Innovation in America Act This bill modifies provisions enacted by the Infrastructure Investment and Jobs Act relating to the definitions of broker and digital assets and their reporting requirements. The bill redefines broker, for tax reporting purposes, to mean any person who (for consideration) stands ready in the ordinary course of business to effect sales of digital assets at the direction of their customers. The bill redefines digital asset to mean any digital representation of value which is recorded on a cryptographically secured distribution ledger (this revised definition eliminates the discretion of the Department of the Treasury to include similar technology in the definition of digital asset). The bill eliminates the cash reporting requirement for digital assets (i.e., receipt of more than $10,000) but requires Treasury, in consultation with the Financial Crimes Enforcement Network and other representatives of the digital asset industry, to conduct a study of, and report on, the effect of expanding the definition of cash to include any digital asset.

Key Points

Main provisions of the bill

The bill redefines 'broker' to only include those who directly facilitate the sale of digital assets, narrowing the previous definition.
It redefines 'digital asset' to exclude certain technologies, removing Treasury's discretion to expand the definition.
The bill eliminates the requirement to report cash transactions over $10,000 in digital assets, but requires a study on expanding the definition of 'cash' to include digital assets.

How This Impacts Americans

Potential effects on citizens and communities

This bill would impact businesses and individuals in the cryptocurrency industry by reducing their tax reporting requirements. It could also affect efforts to regulate and monitor digital asset transactions if the definition of 'cash' is expanded to include them.

Policy Areas

Primary Policy Area

Taxation

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

1414, 119th Congress (2025). "Cameron’s Law". Source: Voter's Right Platform. https://votersright.org/bills/118-hr-1414