Biden-era regs classifying some decentralized digital asset entities as brokers subject to IRS reporting rules are one step closer to elimination following a bipartisan House vote that has Republicans enthused.
The House passed H.J. Res. 25 March 11 by a vote of 292-132. A joint resolution for congressional disapproval under the Congressional Review Act (CRA), the bill would overturn IRS rules relating to gross proceeds reporting by brokers that regularly provide services effectuating digital asset sales pursuant to the Infrastructure Investment and Jobs Act.
To dig deeper, visit the original article on the Thomson Reuters blog.