H.J.Res. 25 became law 79 days after introduction, with cosponsors from both parties
Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales".
Written by the Congressional Research Service [2]. 92 words.
This joint resolution nullifies requirements for persons effectuating decentralized financial (DeFi) transactions to report certain information regarding digital asset sales to the Internal Revenue Service (IRS). Specifically, the joint resolution nullifies the requirements included in the rule titled Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales and issued by the IRS on December 30, 2024. Decentralized finance refers to the suite of financial activities and services that are facilitated by cryptocurrency and intended to be conducted without any sort of reliance on traditional financial tools or intermediaries.
- Committees
- House Ways and Means Committee
- Policy area
- Taxation: 20 of 6,214 bills became law, 113th–118th (0.3%)
- Sponsor
- 2 of 62 bills enacted since 2013
- Text versions
- 6, from enrolled bill to public law · 267 words
- Subjects
- Administrative law and regulatory proceduresCongressional oversightCurrencyDigital mediaFinancial services and investmentsInternal Revenue Service (IRS) +1 more
- Latest action
- Apr 10, 2025: Became Public Law No: 119-5.
- Records
- Congress.gov · Bill text
Each bill appears once, under its strongest link. 3 in all.
Shared text, or included in a law · 2
- 119th H.Res. 212 Returning Senate Joint Resolution 3 to the Senate. R · Agreed to
- 119th S.J.Res. 3 A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Inte R · Passed one chamber
Procedural (rules, motions) · 1
- 119th H.Res. 211 Providing for consideration of the joint resolution (H.J. Res. 25) providing for congressional disapproval under chapter 8 of title 5, Unite R · Agreed to