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
- Committee Jan 21
- Passed Senate Mar 4
- Passed House Next
- To President Not yet
- Law Not yet
Where it stands
Passed Senate, Mar 4, 2025Next: House vote
595d ago Mar 12, 2025: Message received in Senate: Returned to the Senate pursuant to the provisions of H.Res. 212.
Final votes
Senate 70-27
2 roll calls on this bill
Member trades
0trades near votes, 0 by members who voted
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1 companyCompanies by sector
Financials 1
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Votes
Senate roll 102
Passed Senate without amendment
Member positions n/a
70-27
Passed
Procedural votes1
Senate roll 101
Motion to proceed to consideration of measure
Member positions n/a
70-28
Agreed to
Member trades
No member of Congress traded these companies within 90 days of a vote
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.
Library of Congress summary, Jan 21, 2025
Summary versions
- Introduced in SenateJan 21, 2025
Actions
- SenateMessage received in Senate: Returned to the Senate pursuant to the provisions of H.Res. 212.Mar 12, 2025
- HousePapers returned to Senate pursuant to H. Res. 212Mar 11, 2025
- HouseHeld at the DeskMar 10, 2025
- HouseReceived in the HouseMar 10, 2025
- SenateMessage on Senate action sent to the House.Mar 6, 2025
- SenateMotion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 70 - 28. Record Vote Number: 101. (CR S1470-1471)Mar 4, 2025
- SenateMeasure laid before Senate by motion. (consideration: CR S1471, S1477, S1485-1488)Mar 4, 2025
- SenatePassed Senate without amendment by Yea-Nay Vote. 70 - 27. Record Vote Number: 102. (text: CR S1488)Mar 4, 2025
- SenateSenate Committee on Finance discharged, by petition, pursuant to 5 U.S.C. 802(c).Feb 12, 2025
- SenatePlaced on Senate Legislative Calendar under General Orders. Calendar No. 11.Feb 12, 2025
- SenateIntroduced in SenateJan 21, 2025
- SenateRead twice and referred to the Committee on Finance.Jan 21, 2025
Bill record
Text versions3
- Engrossed in SenateMar 4, 2025PDF: Engrossed in Senate
- Placed on Calendar SenateFeb 12, 2025PDF: Placed on Calendar Senate
- Introduced in SenateJan 21, 2025PDF: Introduced in Senate
Committees1
- Senate Finance CommitteeDischarged From Feb 12, 2025Referred To, Jan 21, 2025
Sponsor and cosponsors14 cosponsors
- Sen. Ted Cruz (R-TX)Sponsor, Jan 21, 2025
- Bill Hagerty (R-TN)OriginalJoined Jan 21, 2025
- Cynthia Lummis (R-WY)OriginalJoined Jan 21, 2025
- Ted Budd (R-NC)OriginalJoined Jan 21, 2025
- Thomas Tillis (R-NC)OriginalJoined Jan 21, 2025
- Tim Sheehy (R-MT)OriginalJoined Jan 21, 2025
- Bernie Moreno (R-OH)Joined Jan 24, 2025
- John Curtis (R-UT)Joined Jan 28, 2025
- Mike Lee (R-UT)Joined Jan 28, 2025
- Tom Cotton (R-AR)Joined Jan 28, 2025
- Jim Banks (R-IN)Joined Feb 3, 2025
- Steve Daines (R-MT)Joined Feb 4, 2025
- Marsha Blackburn (R-TN)Joined Feb 10, 2025
- Tim Scott (R-SC)Joined Feb 20, 2025
- David McCormick (R-PA)Joined Mar 4, 2025
Amendments0
No amendments offered
Cost estimates and reports0
No cost estimate or committee report yet
Titles1
Official titles
- 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".Official Title as Introduced
Subjects8
Policy area
Legislative subjects
Administrative law and regulatory proceduresCongressional oversightCurrencyDigital mediaFinancial services and investmentsInternal Revenue Service (IRS)Tax administration and collection, taxpayers
Related bills2
- H.J.Res. 25 119th, Related bill, Contained in public law 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".
- H.Res. 212 119th, Related bill Returning Senate Joint Resolution 3 to the Senate.
Official record from Congress.gov, the House Clerk and the Senate; lobbying from Lobbying Disclosure Act filings. Updated Oct 27, 2026.