H.J.Res. 25
EnactedProviding 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".
Latest Action
Became Public Law No: 119-5.
4/10/2025
Summary
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.
Public Law • 4/10/2025
Topics & Subjects
Congressional Votes (3)
On the Joint Resolution
March 26, 2025
On the Motion to Proceed
March 26, 2025
On Passage
March 11, 2025
Related Federal Spending
Sponsor & Cosponsors (10)
Party Breakdown
Sponsor
Cosponsors (9)
Enacted into Law
Public Law 119-5
View on Congress.govBill Journey
Originated in the House
Introduced
January 21, 2025
Committee Review
February 26, 2025
Floor Debate
March 11, 2025
Passed Chamber
March 11, 2025
Other Chamber
March 27, 2025
President
April 1, 2025
Enacted into Law
April 10, 2025
Became Public Law No: 119-5.
Text Versions (6)
Committee Reports (1)
Related Bills (3)
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 Internal Revenue Service relating to "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales".
H.Res. 212
Returning Senate Joint Resolution 3 to the Senate.
H.Res. 211
Providing for consideration of the joint resolution (H.J. Res. 25) 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’’; providing for consideration of the bill (H.R. 1156) to amend the CARES Act to extend the statute of limitations for fraud under certain unemployment programs, and for other purposes; providing for consideration of the bill (H.R. 1968) making further continuing appropriations and other extensions for the fiscal year ending September 30, 2025, and for other purposes; and for other purposes.