What This Bill Does · Plain English
Summary · Congress.gov
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.
Top Winners · Companies that benefit if HJRES.25 passes
95% confidence
Direct beneficiary as crypto broker avoiding IRS reporting requirements; Trump holds COIN $1,001-$15,000 and Alex Wong $15,001-$50,000 per get_executive_branch_exposure; 18 congressional buys vs 8 sells per get_sector_political_positioning
90% confidence
BTC exposure benefits from lighter DeFi reporting; prescient congressional buys by Thanedar (D) 2024-07-01 and Shreve (R) 2025-02-24 ($15,001-$50,000 each) before committee report 2025-02-26 per get_bill_timeline; Trump holds MSTR $1,001-$15,000 per get_executive_branch_exposure; 4 buys vs 2 sells per get_sector_political_positioning; $29M federal contracts per get_government_precedent
Top winners identified by GovGreed LLM analysis.
Vote Breakdown · How Congress voted on HJRES.25
Senate
398-158
PASSED
Democrats
96 yea
147 nay
Republicans
302 yea
0 nay
Independents
0 yea
11 nay
House
292-132
PASSED
Democrats
75 yea
131 nay
1 present
Republicans
213 yea
0 nay
Independents
4 yea
1 nay
⚠️ 12 members broke with party on this vote
Action Timeline
2025-04-10
Became Public Law No: 119-5.
2025-04-10
Signed by President.
2025-04-10
Signed by President.
2025-04-10
Became Public Law No: 119-5.
2025-04-01
Presented to President.
2025-04-01
Presented to President.
2025-03-27
Message on Senate action sent to the House.
2025-03-26
Passed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 70 - 28. Record Vote Number: 151.
2025-03-26
Passed Senate without amendment by Yea-Nay Vote. 70 - 28. Record Vote Number: 151.
2025-03-26
Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 70 - 28. Record Vote Number: 150.
Frequently Asked Questions
Did HJRES.25 pass?
Yes. HJRES.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".) was enacted into law. Bill stage: ENACTED.
What does HJRES.25 do?
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.
Who sponsored HJRES.25?
HJRES.25 was sponsored by Mike Carey (R-Ohio).
What companies benefit from HJRES.25?
Top public companies expected to benefit: COIN, MSTR. Affected sectors: technology.
Who voted against HJRES.25?
12 members broke with their party on this vote. Notably, Angela Alsobrooks (D) voted yea.
Full Bill Text
HJ 25 ENR: 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”. U.S. House of Representatives text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. IB One Hundred Nineteenth Congress of the United States of America At the First Session Begun and held at the City of Washington on Friday, the third day of January, two thousand and twenty-five H. J. RES. 25 JOINT RESOLUTION 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 . That Congress disapproves the rule submitted by the Internal Revenue Service relating to Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales (89 Fed. Reg. 106928 (December 30, 2024)), and such rule shall have no force or effect. Speaker of the House of Representatives. Vice President of the United States and President of the Senate.
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