H.J.Res. 25 Became law · Public Law 119-5 Taxation

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".

Introduced
Committee
Passed House
Passed Senate
To President
Became law

Sponsor Rep. Carey, Mike [R-OH-15] Introduced January 21, 2025 Cosponsors 9 (8 R, 1 D) Latest action April 10, 2025

Summary

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.

Summary by the Congressional Research Service, Library of Congress.

Congress.gov

Roll-call votes

SenateMar 26, 2025·Roll 151·H.J.Res. 25
H.J.Res. 25
On the Joint Resolution H.J.Res. 25

Joint Resolution Passed70–28
R 53–0 D 17–26 I 0–2
SenateMar 26, 2025·Roll 150·H.J.Res. 25
Motion to Proceed to H.J.Res. 25
On the Motion to Proceed H.J.Res. 25

Motion to Proceed Agreed to70–28
R 52–0 D 18–26 I 0–2
HouseMar 11, 2025·Roll 71·H.J.Res. 25
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…
On Passage

Passed292–132
R 216–0 D 76–132

Actions

Apr 10, 2025 Became Public Law No: 119-5.
Apr 10, 2025 Signed by President.
Apr 1, 2025 Presented to President.
Mar 27, 2025 Message on Senate action sent to the House.
Mar 26, 2025 Passed Senate without amendment by Yea-Nay Vote. 70 - 28. Record Vote Number: 151.
Mar 26, 2025 Measure laid before Senate by motion. (consideration: CR S1856-1864)
Mar 26, 2025 Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 70 - 28. Record Vote Number: 150.
Mar 12, 2025 Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 27.
Mar 11, 2025 Motion to reconsider laid on the table Agreed to without objection.
Mar 11, 2025 On passage Passed by the Yeas and Nays: 292 - 132, 1 Present (Roll no. 71). (text: CR H1099)
Mar 11, 2025 Passed/agreed to in House: On passage Passed by the Yeas and Nays: 292 - 132, 1 Present (Roll no. 71). (text: CR H1099)
Mar 11, 2025 Considered as unfinished business. (consideration: CR H1126)
Mar 11, 2025 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.
Mar 11, 2025 The previous question was ordered pursuant to the rule.
Mar 11, 2025 DEBATE - The House proceeded with one hour of debate on H.J. Res. 25.
Mar 11, 2025 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.
Mar 11, 2025 Considered under the provisions of rule H. Res. 211. (consideration: CR H1099-1102)
Mar 11, 2025 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.
Feb 28, 2025 Placed on the Union Calendar, Calendar No. 3.
Feb 28, 2025 Reported by the Committee on Ways and Means. H. Rept. 119-7.
Feb 26, 2025 Ordered to be Reported by the Yeas and Nays: 26 - 16.
Feb 26, 2025 Committee Consideration and Mark-up Session Held
Jan 21, 2025 Referred to the House Committee on Ways and Means.
Jan 21, 2025 Introduced in House

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