Providing for Congressional Disapproval of the Rule Submitted By the Internal Revenue Service Relating to ``Gross Proceeds Reporting By Brokers That Regularly Provide Services Effectuating Digital Asset Sales''

Floor Speech

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Ms. SIMON. Mr Speaker, I will vote for H.J. Res. 25, 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.''

My constituents in the East Bay are among the many adopters of digital assets and cryptocurrencies. And while I have consistently opposed any Congressional Review Act (CRA) joint resolutions advanced by the House Majority--and am concerned about the loss in critical tax revenue as a result of this CRA--I believe the digital asset space offers new pathways for economic opportunity, especially for historically marginalized communities; and I strongly believe we must craft an inclusive regulatory framework that protects consumers, holds bad actors accountable, and supports financial inclusion for those who utilize these services.

I welcome the opportunity to work with my colleagues to thoughtfully legislate oversight of and implement necessary guardrails around digital assets so that we protect consumers--especially Black and Brown entrepreneurs, small investors, and working people--and promote innovation.

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