IRS DeFi Broker Gross Proceeds Reporting Rule

Current understanding

The IRS finalized a rule requiring persons that regularly provide services effectuating decentralized finance (DeFi) digital asset sales to report gross proceeds and related transaction information as ‘brokers.’ A Congressional Review Act joint resolution has been introduced to nullify the rule, which would eliminate the DeFi-specific broker reporting obligation if enacted. Status: final rule in effect; CRA disapproval resolution introduced.

Evidence log

• 2025-04-10 — 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”.: Congress enacted Public Law 119-5, a CRA joint resolution of disapproval nullifying the IRS DeFi broker gross-proceeds reporting rule; the rule has no force or effect and, under the CRA, cannot be reissued in substantially the same form absent new authorization. (novelty: 3)
• 2025-03-12 — A joint resolution 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”.: cross-connection with taxation-information-reporting-thresholds: Both concern the scope of IRS information-reporting obligations on financial and digital-asset transactions. (novelty: 2)

Open questions

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