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".
Road to The Floor
How it worksIntroduced
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On The Floor
Passed a Chamber
Passed Congress
To President
Became Law
What this bill does
AI plain-language summaryThis joint resolution cancels a rule from the IRS that would have required people and platforms involved in decentralized finance (DeFi) transactions to report certain information about digital asset sales to the IRS. Decentralized finance refers to financial activities that use cryptocurrency and are designed to work without traditional banks or financial middlemen. The IRS rule being canceled was issued on December 30, 2024, and dealt with how brokers who help carry out digital asset sales must report the money made from those sales.
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Mar 11, 2025Discussion (0)
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