S.J.Res. 3 · 119th Congress · Taxation
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".
Overturns IRS rule requiring brokers to report digital asset sales gross proceeds. AI-read
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, Jan 21, 2025 (Introduced in Senate). CRS summarizes bills impartially; it does not take positions.
Roll call votes
| Date | Question | Party split (yea) | Result |
|---|---|---|---|
| Mar 4, 2025 Senate roll 101 |
On the Motion to ProceedA 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". | D 17–27 · R 52–0 · I 1–1 |
Passed 70–28 |
| Mar 4, 2025 Senate roll 102 |
On the Joint ResolutionA 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". | D 18–26 · R 51–0 · I 1–1 |
Passed 70–27 |
Latest action
Mar 12, 2025 · Message received in Senate: Returned to the Senate pursuant to the provisions of H.Res. 212.