H. J. RES. 198 is a joint resolution that seeks congressional disapproval of a rule set by the Department of the Treasury. This rule is concerned with how brokers report gross proceeds and determine the amount realized and basis for digital asset transactions. The resolution...
Simple Explanation
H. J. RES. 198 is a plan from Congress saying they don’t agree with a rule made by a group in charge of money things, called the Treasury. This rule was about telling brokers (the people who help buy and sell stuff) how to handle reports when people trade digital coins like Bitcoin, but Congress thinks it shouldn’t be used.