Based on previous comments, Gerry Connolly has indicated they are very anti-cryptocurrency. Below you can view the tweets, quotes, and other commentary Gerry Connolly has made about crypto.
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".
Details
This joint resolution utilizes the Congressional Review Act to formally disapprove and nullify the Internal Revenue Service rule on gross proceeds reporting for digital asset brokers. By nullifying this administrative rule, the resolution aims to prevent the implementation of expansive tax reporting mandates on entities facilitating cryptocurrency transactions. This would block the controversial broker definition from taking effect, protecting decentralized actors and self-custody wallets from unworkable compliance requirements.
To amend the Federal Reserve Act to prohibit the Federal Reserve banks from offering certain products or services directly to an individual, to prohibit the use of central bank digital currency for monetary policy, and for other purposes.
For congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Staff Accounting Bulletin No. 121".
This staff accounting bulletin expresses the views of the staff regarding the accounting for obligations to safeguard crypto-assets an entity holds for platform users.