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SJRES 3Passed SenateTaxessenate

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 Jan 21, 2025 by Sen. Ted Cruz

IntroducedCommitteeFloorCongressLaw

The Senate passed it. The House has to pass it before it can reach the President.

Latest action · Mar 12, 2025
Message received in Senate: Returned to the Senate pursuant to the provisions of H.Res. 212.
Read it on Congress.gov
What it does

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.

Summary by the Congressional Research Service.

Roll-call votes
70–27JOINT RESOLUTION PASSED
On the Joint Resolution S.J.Res. 3
senate · Mar 4, 2025
70–28MOTION TO PROCEED AGREED TO
On the Motion to Proceed S.J.Res. 3
senate · Mar 4, 2025
History
  1. Mar 12, 2025
    Message received in Senate: Returned to the Senate pursuant to the provisions of H.Res. 212.
  2. Mar 11, 2025
    Papers returned to Senate pursuant to H. Res. 212
  3. Mar 10, 2025
    Held at the Desk
  4. Mar 10, 2025
    Received in the House
  5. Mar 6, 2025
    Message on Senate action sent to the House.
  6. Mar 4, 2025
    Passed Senate without amendment by Yea-Nay Vote. 70 - 27. Record Vote Number: 102. (text: CR S1488)
  7. Mar 4, 2025
    Passed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 70 - 27. Record Vote Number: 102.
  8. Mar 4, 2025
    Measure laid before Senate by motion. (consideration: CR S1471, S1477, S1485-1488)
  9. Mar 4, 2025
    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
    Placed on Senate Legislative Calendar under General Orders. Calendar No. 11.
  11. Feb 12, 2025
    Senate Committee on Finance discharged, by petition, pursuant to 5 U.S.C. 802(c).
  12. Jan 21, 2025
    Read twice and referred to the Committee on Finance.
  13. Jan 21, 2025
    Introduced in Senate