assets. (II) Crypto asset The term crypto asset has the meaning given such term in section 9801 of title 31, United States Code. (iv) Limitation This subparagraph shall apply only if the crypto assets are of a kind customarily dealt in on a crypto asset exchange and if the transaction is of a kind customarily consummated at such exchange. . (b) Conforming amendment Subparagraph (D) of section 864(b)(2) of the Internal Revenue Code of 1986, as redesignated by subsection (a), is amended by striking (A)(i) and (B)(i) and inserting (A)(i), (B)(i), and (C)(i) . (c) Effective date The amendments made by this section shall apply to taxable years beginning after the date of enactment of this Act. 804. Tax treatment of crypto asset lending agreements and related matters (a) In general Subsection (a) of section 1058 of the Internal Revenue Code of 1986 is amended by striking (as defined in section 1236(c)) . (b) Fixed term Paragraph (1) of subsection (b) of section 1058 of the Internal Revenue Code of 1986 is amended by inserting , including a fixed-term transfer that occurs in the ordinary course of a securities lending or investment management business after transferred . (c) Basis Subsection (c) of section 1058 of the Internal Revenue Code of 1986 is amended by adding at the end the following: All appropriate basis adjustments to an agreement under subsection (b) shall be made, as determined by the Secretary, including upon the return of the lent securities to the taxpayer. . (d) Securities Section 1058 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsections: (d) Securities For purposes of this section, the term securities has the meaning given such term by section 1236(c), except that such term includes any crypto asset (as defined in section 9801 of title 31, United States Code) and, with respect to a crypto asset, does not require a call option. (e) Income An amount equal to the income which would otherwise accrue to the lender but for a lending transaction under this