On March 11, 2025, the United States House of Representatives passed H.J.Res. 25, which provides for congressional disapproval of the DeFi crypto regulations published on December 30, 2024 (89 Fed. Reg. 106928). On March 4, 2025, the United States Senate passed an identical bill, S.J.Res 3, disapproving of the regulations. Titled “Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales,” the DeFi crypto regulations require decentralized finance platforms to report information on crypto transactions to the Internal Revenue Service. If signed by the president as expected, the joint resolution will nullify the DeFi crypto regulations.
H.J. Res. 25 can be found here.
S.J. Res. 3 can be found here.
