rules of subsection (a) shall apply to any loss realized on the closing of a short sale of (or the sale, disposition, or termination of a contract or option to sell or a short notional principal contract in respect of) specified assets if, within a period beginning 30 days before the date of such closing and ending 30 days after such date, another such short sale of (or contract or option to sell or short notional principal contract in respect of) substantially identical specified assets was entered into by the taxpayer. (f) Cash settlement This section shall not fail to apply to a contract or option to acquire or sell specified assets solely by reason of the fact that the contract or option settles in (or could be settled in) cash or property other than such specified assets. (g) Specified asset For purposes of this section, the term specified asset means any of the following: (1) Any security (as defined in section 475(c)(2)). (2) Except as otherwise provided by the Secretary— (A) any crypto asset (as defined in section 9801 of title 31, United States Code) which is actively traded (within the meaning of section 1092(d)(1)), (B) any notional principal contract with respect to any crypto asset described in subparagraph (A), and (C) any evidence of an interest in, or a derivative instrument in, any crypto asset described in subparagraph (A) or (B), including any option, forward contract, futures contract, short position, and any similar instrument in such a crypto asset. Such term shall, except as provided in regulations, include contracts or options to acquire or sell, or notional principal contracts in respect of, any specified assets. (h) Exception for business needs and hedging transactions (1) In general Except as provided in regulations prescribed by the Secretary, in the case of a specified asset to which this subsection applies, subsection (a) shall not apply to the extent that both the sale or other disposition of such asset and the acquisition of (or the entering into of the contract or option to