H.J.Res. 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".

0 The big picture: Lawmakers want to scrap an IRS rule that requires brokers handling cryptocurrencies—think Coinbase or Robinhood—to report gross sales proceeds, making it harder for the IRS to track crypto transactions. This rule, finalized in late 2024, is part of a broader government effort to clamp down on crypto tax evasion.

1 Zoom in: The rule’s aim was to ensure traders accurately report their gains and losses, and to make it tougher for people to hide money in digital assets. But critics, including some in Congress, say it puts too much burden on crypto brokers and could stifle innovation or drive businesses overseas.

2 Between the lines: Overturning the rule would keep the current, more relaxed reporting system in place, meaning the IRS might have a tougher time tracking who owes crypto taxes. Backers of the resolution argue the agency’s rule is too broad and unclear; opponents warn it’s needed to prevent tax cheats from slipping through the cracks.