Ways and Means Committee
- Referred To
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Introduced: Jan 21, 2025
Latest action date: Apr 10, 2025
Latest development
Became Public Law No: 119-5.
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Status detail: Congress.gov records that the measure became law.
Plain-language overview
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.
Official summary from Congress.gov.
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Official CRS policy area
Taxation
Committees and subcommittees that received, reviewed, marked up, or reported this legislation.
Proposed changes to this measure, with their latest official outcome or action from Congress.gov.
No amendments are listed for this measure.
Checked against Congress.gov Oct 25, 2026.
Newest action first. Action language comes from the official Congress.gov record.
Signed by President.
Became Public Law No: 119-5.
Became Public Law No: 119-5.
Signed by President.
Presented to President.
Presented to President.
Message on Senate action sent to the House.
Passed Senate without amendment by Yea-Nay Vote. 70 - 28. Record Vote Number: 151.
Passed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 70 - 28. Record Vote Number: 151.
Measure laid before Senate by motion. (consideration: CR S1856-1864)
Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 70 - 28. Record Vote Number: 150.
Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 27.
Motion to reconsider laid on the table Agreed to without objection.
On passage Passed by the Yeas and Nays: 292 - 132, 1 Present (Roll no. 71). (text: CR H1099)
Passed/agreed to in House: On passage Passed by the Yeas and Nays: 292 - 132, 1 Present (Roll no. 71). (text: CR H1099)
Considered as unfinished business. (consideration: CR H1126)
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.
The previous question was ordered pursuant to the rule.
DEBATE - The House proceeded with one hour of debate on H.J. Res. 25.
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.
Considered under the provisions of rule H. Res. 211. (consideration: CR H1099-1102)
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.
Reported by the Committee on Ways and Means. H. Rept. 119-7.
Placed on the Union Calendar, Calendar No. 3.
Reported by the Committee on Ways and Means. H. Rept. 119-7.
Committee Consideration and Mark-up Session Held
Ordered to be Reported by the Yeas and Nays: 26 - 16.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
Recorded House and Senate votes connected to this bill. Your representatives appear first when available.
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