SJRES3Introduced
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
4
Passed Both5
Signed into Law119th
Congress
2025-01-21
Introduced
14
Cosponsors
SJRES
ⓘType
Sponsor
Ted Cruz
Republican · TX · Senator
Votes with party: 33.1% (308 recorded votes)
Full profile: /officials/C001098
Source: Congress.gov · FEC
Cosponsors (14)
Members who have signed on to support this bill since introduction. Source: Congress.gov.
- Bill Hagerty (R-TN)Original· 2025-01-21
- Cynthia M. Lummis (R-WY)Original· 2025-01-21
- Ted Budd (R-NC)Original· 2025-01-21
- Thom Tillis (R-NC)Original· 2025-01-21
- Tim Sheehy (R-MT)Original· 2025-01-21
- Bernie Moreno (R-OH)· 2025-01-24
- John R. Curtis (R-UT)· 2025-01-28
- Mike Lee (R-UT)· 2025-01-28
- Tom Cotton (R-AR)· 2025-01-28
- Jim Banks (R-IN)· 2025-02-03
- Steve Daines (R-MT)· 2025-02-04
- Marsha Blackburn (R-TN)· 2025-02-10
- Tim Scott (R-SC)· 2025-02-20
- David McCormick (R-PA)· 2025-03-04
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
Plain-English Summary
Congress is voting to reject a new IRS rule that would require brokers and platforms that handle cryptocurrency and digital asset sales to report detailed information about customer transactions to the government. If approved, this resolution would block the rule from taking effect, preventing the IRS from collecting this additional reporting data on digital asset trades. The measure affects cryptocurrency exchanges, payment processors, and other platforms that facilitate digital asset sales, as well as individuals who trade these assets.
AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.
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''.
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