Latest action. Became public lawWhat a bill becomes when enacted, numbered by Congress and order of enactment: Public Law 119-4 is the 4th law of the 119th Congress.Read the full definition (opens a new tab) No: 119-5.
This joint resolution nullifies requirements for persons effectuating decentralized financial (DeFi) transactions to report certain information regarding digital asset sales to the Internal Revenue Service (IRS). Specifically, the joint resolution nullifies the requirements included in the rule titled Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales and issued by the IRS on December 30, 2024.
Decentralized finance refers to the suite of financial activities and services that are facilitated by cryptocurrency and intended to be conducted without any sort of reliance on traditional financial tools or intermediaries.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Public Law" stage on April 10, 2025. It describes the bill, it is not the legal text.
This joint resolution has been enacted. It is law.
The record's latest action, on April 10, 2025: Became Public Law No: 119-5.
A joint resolution travels the same road as a bill: both chambers pass it and the President signs it, and it then has the same force as any other law. The label is largely a matter of custom, often used for narrow or time-limited measures.
One exception matters. A joint resolution proposing an amendment to the Constitution is not sent to the President at all. It goes to the states, and three quarters of them have to ratify it.
Yes. 3 recorded roll-call votes cite this measure, listed further down this page with every member's position.
Mike Carey (R-OH) introduced it on January 21, 2025, and 9 members have since signed on as cosponsors.
They come from both major parties: 1 Democrat, 8 Republicans.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.