According to a new ‘must pass’ law in Congress, bitcoin is not a commodity, security, property, and certainly not a foreign currency. The law states that digital assets are to be treated as cash for purposes of Section 6050I(d) of the Internal Revenue Code of 1986. The foreign currency is included in Cash law and once the law is passed it will include digital assets, with digital assets defined as “any digital representation of value which is recorded on a cryptographically secured distributed ledger or any similar technology.”