S.J.Res. 3 · 119th Congress

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".

Passed the SenateEconomy

Details

Sponsor: Ted Cruz (R)
Introduced: 2025-01-21
Origin: Senate
Policy area: Taxation
Latest action: 2025-03-12 — Message received in Senate: Returned to the Senate pursuant to the provisions of H.Res. 212.
Cosponsors: 14

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.

CRS summary — Introduced in Senate (2025-01-21)

Recorded votes (2)

Date	Chamber	Question	Yea–Nay	Result
2025-03-04	Senate	On the Motion to Proceed	70–28	Motion to Proceed Agreed to
2025-03-04	Senate	On the Joint Resolution	70–27	Joint Resolution Passed

Senate counts are senators only; a Vice President tie-breaking vote is not included (e.g. 50–50, passed).