Congress disapproves the IRS rule on Gross Proceeds Reporting by brokers in digital asset sales.
The bill expresses congressional disapproval of a rule submitted by the Internal Revenue Service (IRS) concerning "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales." The rule, which was published in the Federal Register on December 30, 2024, is thereby nullified and will have no legal effect. This disapproval follows the procedures outlined in chapter 8 of title 5, United States Code.
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