United StatesProviding 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".
What it does
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.
More detail
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.
Where do you stand?
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Apr 10Signed by President.Became Law
- Apr 10Became Public Law No: 119-5.Minor
- Apr 1Presented to President.To President
- Mar 27Message on Senate action sent to the House.
- Vote recorded On the Joint Resolution H.J.Res. 25. Result: Joint Resolution Passed.Senate
- Mar 26Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 70 - 28. Record Vote Number: 150.
- Vote recorded On the Motion to Proceed H.J.Res. 25. Result: Motion to Proceed Agreed to.Senate
- Mar 26Measure laid before Senate by motion. (consideration: CR S1856-1864)
- Mar 26Passed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 70 - 28. Record Vote Number: 151.Passed Senate
- Mar 12Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 27.
- Mar 11Rules Committee Resolution H. Res. 211 Reported to House. Rule provides for consideration of H.J. Res. 25, H.R. 1156 and H.R. 1968. The resolution provides for consideration of H.J. Res. 25, H.R. 1156, and H.R. 1968 under a closed rule. Also, the resolution provides for one hour of general debate and one motion to recommit on each measure.
- Vote recorded Legislative vote recorded. Result: Passed.House
- Mar 11Considered under the provisions of rule H. Res. 211. (consideration: CR H1099-1102)
- Mar 11Rule provides for consideration of H.J. Res. 25, H.R. 1156 and H.R. 1968. The resolution provides for consideration of H.J. Res. 25, H.R. 1156, and H.R. 1968 under a closed rule. Also, the resolution provides for one hour of general debate and one motion to recommit on each measure.
- Mar 11DEBATE - The House proceeded with one hour of debate on H.J. Res. 25.
- Mar 11The previous question was ordered pursuant to the rule.
- Mar 11POSTPONED PROCEEDINGS - At the conclusion of debate on H.J. Res. 25, the Chair put the question on passage of the joint resolution and by voice vote announced that the ayes had prevailed. Mr. Davis (IL) demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
- Mar 11Considered as unfinished business. (consideration: CR H1126)
- Mar 11Passed/agreed to in House: On passage Passed by the Yeas and Nays: 292 - 132, 1 Present (Roll no. 71). (text: CR H1099)Passed House
- Mar 11Motion to reconsider laid on the table Agreed to without objection.
- Feb 28Reported by the Committee on Ways and Means. H. Rept. 119-7.
- Feb 28Placed on the Union Calendar, Calendar No. 3.
- Feb 26Committee Consideration and Mark-up Session Held
- Feb 26Ordered to be Reported by the Yeas and Nays: 26 - 16.
- Jan 21Introduced in House
- Jan 21Referred to the House Committee on Ways and Means.Introduced