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Rep. Lisa McClain, Chairwoman

Press Releases

Chairwoman McClain’s Statement on the U.S. House Passing Legislation to Reverse a Biden-era Regulation Affecting Digital Asset Sales

Washington, March 11, 2025

WASHINGTON – House Republican Conference Chairwoman Lisa McClain (R-Mich.) released the following statement after the U.S. House of Representatives passed legislation to reverse a Biden-era regulation impacting digital asset sales:

“We voted to reverse another burdensome Biden-era regulation that created unnecessary bureaucracy in our digital asset sales. House Republicans are easing restrictions, spurring innovation, and making America more competitive,” Chairwoman McClain said.  

H. J. Res. 25 would reverse the IRS rule relating to “Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales.” The Resolution would also wipe the slate clean for Congress to enact the Trump administration’s desired policy related to decentralized finance (DeFi) Brokers.