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National Defense Authorization Act for Fiscal Year 2021

The National Defense Authorization Act for Fiscal Year 2021 (NDAA FY21) has been enacted, establishing defense policies and funding for the upcoming fiscal year. It includes provisions related to cybersecurity, supply chain security, and technological innovation within the defense sector.

Congress Disapproves IRS Digital Asset Reporting Rule

Congress has disapproved a rule from the Internal Revenue Service (IRS) that would have required brokers to report digital asset sales to the IRS. This action effectively removes the proposed reporting requirements for digital asset transactions.

Disapproval of Bureau of Ocean Energy Management Rule

Congress has passed a joint resolution to disapprove a rule issued by the Bureau of Ocean Energy Management (BOEM). This action effectively removes the BOEM rule, impacting energy companies operating in federal waters. The specific rule being disapproved is identified by its Public Law number.