What This Bill Does · Plain English
Summary · Congress.gov
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.
Vote Breakdown · How Congress voted on SJRES.3
Senate
700-273
PASSED
Democrats
177 yea
263 nay
Republicans
513 yea
0 nay
Independents
10 yea
10 nay
⚠️ 12 members broke with party on this vote
Action Timeline
2025-03-12
Message received in Senate: Returned to the Senate pursuant to the provisions of H.Res. 212.
2025-03-11
Papers returned to Senate pursuant to H. Res. 212
2025-03-10
Held at the Desk
2025-03-10
Received in the House
2025-03-06
Message on Senate action sent to the House.
2025-03-04
Passed Senate without amendment by Yea-Nay Vote. 70 - 27. Record Vote Number: 102. (text: CR S1488)
2025-03-04
Passed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 70 - 27. Record Vote Number: 102.
2025-03-04
Measure laid before Senate by motion. (consideration: CR S1471, S1477, S1485-1488)
2025-03-04
Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 70 - 28. Record Vote Number: 101. (CR S1470-1471)
2025-02-12
Placed on Senate Legislative Calendar under General Orders. Calendar No. 11.
Frequently Asked Questions
Did SJRES.3 pass?
SJRES.3 is still alive. Current stage: PASSED_ONE. Pass likelihood: 28%.
What does SJRES.3 do?
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.
Who sponsored SJRES.3?
SJRES.3 was sponsored by Ted Cruz (R-Texas).
Who voted against SJRES.3?
12 members broke with their party on this vote. Notably, Angela Alsobrooks (D) voted yea.
Full Bill Text
119 SJ 3 ES: 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”. U.S. Senate text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. 119th CONGRESS 1st Session S. J. RES. 3 IN THE SENATE OF THE UNITED STATES 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 . 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. Secretary
Loading intelligence layer…