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119th Congress · S.J.Res. 3 · Passed Origin

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".

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.

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SubjectsAdministrative law and regulatory proceduresCongressional oversightCurrencyDigital mediaFinancial services and investmentsInternal Revenue Service (IRS)Tax administration and collection, taxpayers
Sponsor
Ted Cruz, R-TX
3 terms · @SenTedCruz
167 Russell Senate Office Building Washington DC 20510 · 202-224-5922
Cosponsors (14)
  • Cynthia M. Lummis, R-WYOriginal cosponsor
    Co-sponsored Jan 21, 2025 · 5 terms · @SenLummis
  • Bill F. Hagerty, R-TNOriginal cosponsor
    Co-sponsored Jan 21, 2025 · 1 term · @SenatorHagerty
  • Thom R. Tillis, R-NCOriginal cosponsor
    Co-sponsored Jan 21, 2025 · 2 terms · @SenThomTillis
  • Tim P. Sheehy, R-MTOriginal cosponsor
    Co-sponsored Jan 21, 2025 · 1 term
  • Ted Budd, R-NCOriginal cosponsor
    Co-sponsored Jan 21, 2025 · 4 terms · @RepTedBudd
  • Bernie Moreno, R-OH
    Co-sponsored Jan 24, 2025 · 1 term · @berniemoreno
  • John R. Curtis, R-UT
    Co-sponsored Jan 28, 2025 · 5 terms · @RepJohnCurtis
  • Tom Cotton, R-AR
    Co-sponsored Jan 28, 2025 · 3 terms · @SenTomCotton
  • Mike Lee, R-UT
    Co-sponsored Jan 28, 2025 · 3 terms · @SenMikeLee
  • Jim Banks, R-IN
    Co-sponsored Feb 3, 2025 · 5 terms · @RepJimBanks
  • Steve Daines, R-MT
    Co-sponsored Feb 4, 2025 · 3 terms · @SteveDaines
  • Marsha W. Blackburn, R-TN
    Co-sponsored Feb 10, 2025 · 10 terms · @MarshaBlackburn
  • Tim Scott, R-SC
    Co-sponsored Feb 20, 2025 · 5 terms · @SenatorTimScott
  • Dave H. McCormick, R-PA
    Co-sponsored Mar 4, 2025 · 1 term
Committees (1)
  • Finance Committee
    Senate Standing · Activity Feb 12, 2025
Actions (14)
  1. Mar 12, 2025 · via Senate
    Message received in Senate: Returned to the Senate pursuant to the provisions of H.Res. 212.
  2. Mar 11, 2025 · via House floor actions
    Papers returned to Senate pursuant to H. Res. 212
  3. Mar 10, 2025 · via House floor actions
    Held at the Desk
  4. Mar 10, 2025 · via House floor actions
    Received in the House
  5. Mar 6, 2025 · via Senate
    Message on Senate action sent to the House.
  6. Mar 4, 2025 · via Senate
    Passed Senate without amendment by Yea-Nay Vote. 70 - 27. Record Vote Number: 102. (text: CR S1488)
  7. Mar 4, 2025 · via Library of Congress
    Passed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 70 - 27. Record Vote Number: 102.
  8. Mar 4, 2025 · via Senate
    Measure laid before Senate by motion. (consideration: CR S1471, S1477, S1485-1488)
  9. Mar 4, 2025 · via Senate
    Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 70 - 28. Record Vote Number: 101. (CR S1470-1471)
  10. Feb 12, 2025 · via Senate
    Placed on Senate Legislative Calendar under General Orders. Calendar No. 11.
  11. Feb 12, 2025 · via Senate
    Senate Committee on Finance discharged, by petition, pursuant to 5 U.S.C. 802(c).
  12. Feb 12, 2025 · via Library of Congress
    Senate Committee on Finance discharged, by petition, pursuant to 5 U.S.C. 802(c).
  13. Jan 21, 2025 · via Senate
    Read twice and referred to the Committee on Finance.
  14. Jan 21, 2025 · via Library of Congress
    Introduced in Senate
IntroducedJan 21, 2025
Policy areaTaxation
⎔ Pre-anchorPermanent record — anchoring ships soonEpoch 2026-Q4