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Public Law119th CongressTaxation
H.J.Res. 25Became Law

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".

This bill became law

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What it doesSummary public law (Apr 10, 2025)

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.

What just happenedApr 10, 2025

Became Public Law No: 119-5.

Who’s behind it

Rep. Carey, Mike [R-OH-15](R-OH)Sponsor
9 cosponsors1 D8 R
Read on Congress.gov
9cosponsors1committees30actions5related bills
  1. Apr 10, 2025PresidentE40000

    Became Public Law No: 119-5.

  2. Apr 10, 2025BecameLaw36000

    Became Public Law No: 119-5.

  3. Apr 10, 2025PresidentE30000

    Signed by President.

  4. Apr 10, 2025BecameLaw36000

    Signed by President.

  5. Apr 1, 2025FloorE20000

    Presented to President.

  6. Apr 1, 2025President28000

    Presented to President.

  7. Mar 27, 2025Floor

    Message on Senate action sent to the House.

  8. Mar 26, 2025Floor

    Passed Senate without amendment by Yea-Nay Vote. 70 - 28. Record Vote Number: 151.

  9. Mar 26, 2025Floor17000

    Passed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 70 - 28. Record Vote Number: 151.

  10. Mar 26, 2025Floor

    Measure laid before Senate by motion. (consideration: CR S1856-1864)

  11. Mar 26, 2025Floor

    Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 70 - 28. Record Vote Number: 150.

  12. Mar 12, 2025Calendars

    Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 27.

  13. Mar 11, 2025FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  14. Mar 11, 2025FloorH37100

    On passage Passed by the Yeas and Nays: 292 - 132, 1 Present (Roll no. 71). (text: CR H1099)

  15. Mar 11, 2025Floor8000

    Passed/agreed to in House: On passage Passed by the Yeas and Nays: 292 - 132, 1 Present (Roll no. 71). (text: CR H1099)

  16. Mar 11, 2025FloorH30000

    Considered as unfinished business. (consideration: CR H1126)

  17. Mar 11, 2025FloorH8D000

    POSTPONED 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.

  18. Mar 11, 2025FloorH35000

    The previous question was ordered pursuant to the rule.

  19. Mar 11, 2025FloorH8D000

    DEBATE - The House proceeded with one hour of debate on H.J. Res. 25.

  20. Mar 11, 2025FloorH8D000

    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.

  21. Mar 11, 2025FloorH30000

    Considered under the provisions of rule H. Res. 211. (consideration: CR H1099-1102)

  22. Mar 11, 2025FloorH1L210

    Rules 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.

  23. Feb 28, 2025CalendarsH12410

    Placed on the Union Calendar, Calendar No. 3.

  24. Feb 28, 2025CommitteeH12200

    Reported by the Committee on Ways and Means. H. Rept. 119-7.

    Ways and Means Committee
  25. Feb 28, 2025Committee5000

    Reported by the Committee on Ways and Means. H. Rept. 119-7.

    Ways and Means Committee
  26. Feb 26, 2025CommitteeH19000

    Ordered to be Reported by the Yeas and Nays: 26 - 16.

    Ways and Means Committee
  27. Feb 26, 2025CommitteeH15001

    Committee Consideration and Mark-up Session Held

    Ways and Means Committee
  28. Jan 21, 2025IntroReferralH11100

    Referred to the House Committee on Ways and Means.

    Ways and Means Committee
  29. Jan 21, 2025IntroReferralIntro-H

    Introduced in House

  30. Jan 21, 2025IntroReferral1000

    Introduced in House

Public LawApr 10, 202549

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.

Introduced in HouseJan 21, 202500

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.

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of… — Informed