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US HJR25
Joint Resolution
Status
4/10/2025
Primary Sponsor
Mike Carey
Click for details
AI Summary
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Congress disapproves and nullifies the IRS rule on "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales" published December 30, 2024 (89 Fed. Reg. 106928)
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Uses the Congressional Review Act (chapter 8 of title 5, U.S. Code) to overturn the executive agency rule
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The IRS rule would have required cryptocurrency brokers to report gross proceeds from digital asset transactions to the IRS
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Upon enactment, the rule shall have no force or effect, eliminating the reporting requirements for digital asset brokers
Legislative Description
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".
Taxation
Last Action
Became Public Law No: 119-5.
4/10/2025