; and (2) in the first undesignated paragraph of section 9 ( 12 U.S.C. 321 ), in the first sentence, by inserting , covered depository institutions, as defined in section 15(a) of the Bank Holding Company Act of 1956 ( 12 U.S.C. 1853(a) ), after Plan banks . VIII Responsible taxation of crypto assets 801. De minimis gain from sale or exchange of crypto assets (a) In general Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 139I the following new section: 139J. De minimis gain from sale or exchange of crypto assets (a) In general Subject to subsection (b), gross income shall not include gain from the sale or exchange of any crypto asset (as defined in section 9801 of title 31, United States Code), unless the sale or exchange is for— (1) cash or cash equivalents, (2) any property used by the taxpayer in the active conduct of a trade or business, or (3) any property held by the taxpayer for the production of income (as described in section 212(2)). (b) Limitation (1) In general Subsection (a) shall not apply in the case of any sale or exchange for which— (A) the total value of such sale or exchange exceeds $200, or (B) the total gain which would otherwise be recognized with respect to such sale or exchange exceeds $200. (2) Aggregation rule For purposes of this subsection, all sales or exchanges which are part of the same transaction (or a series of related transactions) shall be treated as one sale or exchange. (c) Inflation adjustment In the case of any taxable year beginning in a calendar year after 2024, each dollar amount in subsection (b)(1) shall be increased by an amount equal to— (1) such dollar amount, multiplied by (2) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting calendar year 2023 for calendar year 2016 in subparagraph (A)(ii) thereof. Any increase determined under the preceding sentence shall be rounded to the nearest multiple of $10. . (b)