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H.J.Res. 25119th CongressBecame Public Law No: 119-5.

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: Jan 21, 2025
Latest action: Apr 10, 2025

Latest Action

Became Public Law No: 119-5.

1
Primary Sponsors
9
Cosponsors
25
Recorded Actions
1
Linked Votes

Plain-English AI Summary

What this bill means

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Official Summary

Official legislative summary associated with this bill.

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.

Primary Sponsors

Members listed as primary sponsors of this legislation.

Cosponsors

Members who joined this legislation as cosponsors.

Recorded Actions

Official legislative actions recorded for this measure.

E30000Apr 10, 2025

Signed by President.

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E40000Apr 10, 2025

Became Public Law No: 119-5.

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E20000Apr 1, 2025

Presented to President.

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Mar 27, 2025

Message on Senate action sent to the House.

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17000Mar 26, 2025

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

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Mar 26, 2025

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

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Mar 26, 2025

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

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Mar 26, 2025

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

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Mar 12, 2025

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

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H35000Mar 11, 2025

The previous question was ordered pursuant to the rule.

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H1L210Mar 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.

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H8D000Mar 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.

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H8D000Mar 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.

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8000Mar 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)

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H37100Mar 11, 2025

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

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H38310Mar 11, 2025

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

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H8D000Mar 11, 2025

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

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H30000Mar 11, 2025

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

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H30000Mar 11, 2025

Considered as unfinished business. (consideration: CR H1126)

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H12200Feb 28, 2025

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

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H12410Feb 28, 2025

Placed on the Union Calendar, Calendar No. 3.

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H19000Feb 26, 2025

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

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H15001Feb 26, 2025

Committee Consideration and Mark-up Session Held

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H11100Jan 21, 2025

Referred to the House Committee on Ways and Means.

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Intro-HJan 21, 2025

Introduced in House

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Linked Votes

Roll-call votes associated with this legislation.

Lobbying Activity

Federal lobbying disclosures that explicitly identify H.J.Res. 25. These records show reported lobbying involving the legislation; they do not establish that every member of Congress, sponsor, or voter was personally contacted.

PARADIGM OPERATIONS LP

Registrant: PARADIGM OPERATIONS LP

2nd Quarter (Apr 1 - June 30)
Jul 21, 2025

Reported lobbying issue

Financial Institutions/Investments/Securities: H.R. 1, One Big Beautiful Bill Act - provisions related to remittance and endowment taxes; potential amendment related to crypto tax issues H.R. 2392, Stablecoin Transparency and Accountability for a Better Ledger Economy Act of 2025 (STABLE Act of 2025) H.R. 3633, Digital Asset Market Clarity Act of 2025 S. 919, Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025 (GENIUS Act of 2025) H.J.Res. 25, Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal RevenueService relating to "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales" Issues related to digital assets Issues related to the IRS Digital Broker Rule Issues related to national security and illicit finance Issues related to crypto market structure Crypto tax issues

Government entities reported: HOUSE OF REPRESENTATIVES SENATE

Reported filing-period amount: $370,000

This is the amount reported for the filing/reporting period and should not be interpreted as money spent lobbying this bill alone.

View official LDA filing ↗

PARADIGM OPERATIONS LP

Registrant: PARADIGM OPERATIONS LP

1st Quarter (Jan 1 - Mar 31)
Apr 21, 2025

Reported lobbying issue

Financial Institutions/Investments/Securities: H.R. 2392, Stablecoin Transparency and Accountability for a Better Ledger Economy Act of 2025 (STABLE Act of 2025) S. 919, Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025 (GENIUS Act of 2025) 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 Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales" Issues related to the IRS Digital Broker Rule Issues related to national security and illicit finance Issues related to crypto market structure Crypto tax issues

Government entities reported: HOUSE OF REPRESENTATIVES SENATE

Reported filing-period amount: $270,000

This is the amount reported for the filing/reporting period and should not be interpreted as money spent lobbying this bill alone.

View official LDA filing ↗
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