S.J.Res. 3 · 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".

Legislation· Mar 2025

S.J.Res. 3 Passed House — in Senate

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".

Cancels an rule requiring brokers to report digital asset sales to the federal tax collection agency.

Tradeoff

Blocks the from collecting information on decentralized finance transactions. Cryptocurrency traders will face less tax reporting oversight.

What's in it

See official bill text

The Senate agreed to proceed to this joint resolution on March 4, 2025 (70-28). The Senate then passed it the same day (70-27) — now sitting in the House.

Senate
Introduced
(Jan 21, 2025)
Senate
Committee on Finance(Jan 21, 2025)
Senate
Taken away from the Committee on Finance
Discharged by petition(Feb 12, 2025)
A petition forced the committee to release the bill without acting on it.
Senate
On the
Motion to Proceed to S.J. Res. 3
Motion to Proceed Agreed to(Roll #101 · Mar 4, 2025)
70 yeanay 28
Senate
On the Joint Resolution
Joint Resolution Passed(Roll #102 · Mar 4, 2025)
70 yeanay 27
House
Received from the Senate
Received(Mar 10, 2025)

Cynthia M. Lummis (R-WY)
Bill Hagerty (R-TN)
Thomas Tillis (R-NC)
Tim Sheehy (R-MT)
Ted Budd (R-NC)
Bernie Moreno (R-OH)
John R. Curtis (R-UT)
Tom Cotton (R-AR)
Mike Lee (R-UT)
Jim Banks (R-IN)
Steve Daines (R-MT)
Marsha Blackburn (R-TN)
Tim Scott (R-SC)
David McCormick (R-PA)

Passage votes so far· Mar 4, 2025· 119th Congress · 2025–2027

SenatePassed70–27