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HJRES. 25 · 119th Congress

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".

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Bill details

Introduced: 1/21/2025
Status: Became Public Law No: 119-5.
Bill ID: 119hjres25
Latest action: Became Public Law No: 119-5.

Summary

Introduced in House

This joint resolution nullifies the rule titled Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales and issued by the Internal Revenue Service (IRS) on December 30, 2024. The rule generally requires persons effectuating decentralized financial (DeFi) transactions to report certain information regarding digital asset sales to the IRS.

Source: BILLSUM · Summary date: 1/21/2025

District impact notes

1 notes
NEUTRAL
3/16/2026

This resolution cancels a reporting requirement from the IRS for individuals involved in decentralized financial transactions related to digital asset sales. • The change could affect how local individuals and businesses engage in digital asset transactions and their reporting obligations. • Local financial institutions may need to adjust their practices in response to the new regulatory environment surrounding digital assets. • There may be questions about how the cancellation of this reporting requirement impacts tax compliance and oversight of digital asset transactions. AI-generated from official bill summary and plain-English note; verify with official text.

Related votes

Roll calls that reference this bill in official data.

2 roll calls
Senate · 119 / 1 · Roll 150
On the Motion to Proceed
Date: 3/26/2025Result: Motion to Proceed Agreed to
Open vote →
Senate · 119 / 1 · Roll 151
On the Joint Resolution
Date: 3/26/2025Result: Joint Resolution Passed
Open vote →

Primary sources

Official links to verify details. (No interpretation.)

Summary source label: BILLSUM
Congress.gov bill →GovInfo bill text (BILLS) →GovInfo summaries (BILLSUM) →OurCongress methodology →
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About this data

Non-partisan by design
OurCongress provides plain-English context without endorsements, political interpretation, or advocacy.
Official sources
Data is sourced from official government records (e.g., Congress.gov, GovInfo, Clerk of the House, and the U.S. Senate).
AI-generated text
Some sections may be AI-generated from official summaries/metadata to help readability. AI output can be imperfect—verify with primary sources.
Last updated: 3/16/2026Source: BILLSUMBill: 119hjres25Learn more →