SJRES3Passed Senate

A joint resolution 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".

Introduced

In Committee

Passed One Chamber

Passed Both

Signed into Law

119th

Congress

2025-01-21

Introduced

Cosponsors

SJRES

ⓘ

Type

Sponsor

Ted Cruz

Republican · TX · Senator

Votes with party: 74.0% (813 recorded votes)

Top industries funding sponsor:

Conservative Groups$464k

Full profile: /officials/C001098

Source: Congress.gov · FEC

Cosponsors (14)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Message received in Senate: Returned to the Senate pursuant to the provisions of H.Res. 212.

2025-03-12

Source: Congress.gov

Committee Activity

Currently in

Senate Committee on FinanceDischarged From · 2025-02-12

Previously

Senate Committee on FinanceReferred To · 2025-01-21

Plain-English Summary

This joint resolution nullifies the rule titled Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales and issued by the Internal Revenue Service (IRS) on December 30, 2024. The rule generally requires persons effectuating decentralized financial (DeFi) transactions to report certain information regarding digital asset sales to the IRS.

Plain-English rewrite of the Congressional Research Service summary published on Congress.gov. Cached and reviewed.

Affected Industries

Industries and interest groups with a stake in how this bill is resolved. Compare with each member's outside-money backers on their finance page.

Crypto & Digital Assets

Why this matters: Look up any member who voted on this bill and check their finance page — do the industries listed above match the groups funding their campaigns? That's the kind of connection this tool is built to help you find.

Subjects

Taxation

Full Bill Text

Verbatim text published on Congress.gov via GovInfo. Use Cmd+F / Ctrl+F to search within this excerpt.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S.J. Res. 3 Engrossed in Senate (ES)] <DOC> 119th CONGRESS 1st Session S. J. RES. 3 _______________________________________________________________________ JOINT RESOLUTION 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''. Resolved by the Senate and House of Representatives of the United States of America in Congress assembled, That Congress disapproves the rule submitted by the Internal Revenue Service relating to ``Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales'' (89 Fed. Reg. 106928 (December 30, 2024)), and such rule shall have no force or effect. Passed the Senate March 4, 2025. Attest: Secretary. 119th CONGRESS 1st Session S. J. RES. 3 _______________________________________________________________________ JOINT RESOLUTION 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''.

Open clean-text view Read on Congress.gov →

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