[Extensions of Remarks]
[Pages E215-E216]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 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''

                                 ______
                                 

                               speech of

                          HON. LATEEFAH SIMON

                             of california

                    in the house of representatives

                        Tuesday, March 11, 2025

  Ms. SIMON. Mr Speaker, I will vote for H.J. Res. 25, a joint 
resolution providing for congressional disapproval under chapter 8 of 
title

[[Page E216]]

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.

                          ____________________