Technology

The Breaking the Gridlock Act (HR 1834) contains multiple provisions addressing diverse policy areas. It creates a congressional time capsule to be buried in 2026 and opened in 2276, establishes standard procedures for fire suppression cost share agreements between federal agencies and local fire departments, and requires a strategy to counter Boko Haram threats in Nigeria. The bill also amends funding for the Udall Foundation, prohibits the transfer of sensitive personal data to foreign adversaries, and mandates federal agencies to purchase domestically made U.S. flags. Additionally, it includes appropriations for various government programs and veterans' benefits.

HRES 211 is a procedural resolution that allows the U.S. House of Representatives to debate and vote on three specific legislative measures. It enables consideration of H.J. Res. 25 (which would disapprove an IRS rule requiring brokers to report digital asset sales), H.R. 1156 (which would extend fraud statute of limitations for unemployment programs), and H.R. 1968 (which would fund government operations through September 2025). The resolution waives standard procedural objections and sets time limits for debate on each measure. This resolution itself does not change policy but facilitates the House’s review of these three bills.

HR 1919, the "Anti-CBDC Surveillance State Act," prohibits the Federal Reserve from developing, testing, or issuing any central bank digital currency (CBDC) or similar digital assets. It specifically bans the Fed from offering direct financial products to individuals, maintaining individual accounts, or issuing CBDCs directly or indirectly through intermediaries like banks. The bill also blocks the Fed from using any digital asset for monetary policy and clarifies that physical currency's privacy protections remain intact. This policy directly affects the Federal Reserve System's ability to create or manage digital monetary tools.

This bill (SJRES 28) is a congressional resolution that blocks a rule proposed by the Bureau of Consumer Financial Protection (CFPB). The rule aimed to define which digital payment companies (like Apple Pay or Google Pay) would be classified as "larger participants" in the market, subject to stricter regulations. By disapproving this rule, Congress ensures it has no legal effect, meaning the CFPB cannot enforce these specific oversight requirements on major digital payment platforms. This directly affects the CFPB’s regulatory authority and digital payment companies that would have been subject to the rule.

This joint resolution nullifies requirements for persons effectuating decentralized financial (DeFi) transactions to report certain information regarding digital asset sales to the Internal Revenue Service (IRS). Specifically, the joint resolution nullifies the requirements included in the rule titled Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales and issued by the IRS on December 30, 2024. Decentralized finance refers to the suite of financial activities and services that are facilitated by cryptocurrency and intended to be conducted without any sort of reliance on traditional financial tools or intermediaries.