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".
In progressThis 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.
Mar 12, 2025Message received in Senate: Returned to the Senate pursuant to the provisions of H.Res. 212.
Motion to Proceed Agreed to (70-28)
This joint resolution seeks to disapprove and nullify a rule by the IRS regarding the reporting of gross proceeds by brokers involved in digital asset sales. The resolution is straightforward, aiming to prevent the rule from taking effect.