US Congress · 119th Congress (2025-2026)

SJRES 3Passed Origin Chamber

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".

Source of recordUS Congress · congress.govLast synced Jul 19, 2026

Chamber

Senate

Progress

Where this bill stands in the legislative process.

Introduced
Passed Senate
Passed House
To President
Became Law

Overview

This joint resolution aims to block a rule issued by the Internal Revenue Service (IRS) regarding reporting of gross proceeds from digital asset sales. The IRS rule, effective December 30, 2024, required certain individuals involved in decentralized financial (DeFi) transactions to report this information to the IRS. Congress is using the process of congressional disapproval to overturn this specific IRS rule.

Key provisions

Congress disapproves the IRS rule.
The rule’s provisions are nullified.
The resolution utilizes the congressional disapproval process.
It specifically targets a rule concerning digital asset reporting.
The rule relates to transactions within decentralized financial (DeFi) systems.

Who is affected

Individuals involved in decentralized financial (DeFi) transactions
Brokers facilitating digital asset sales
The Internal Revenue Service (IRS)

Notable changes

Prevents the IRS from requiring reporting of digital asset sales proceeds under the specified rule.

Bill text

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Jan 21, 2025XMLView source

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Legislative history

14 recorded actions · showing the most recent 12

Feb 12, 2025Senate

Placed on Senate Legislative Calendar under General Orders. Calendar No. 11.

Feb 12, 2025Senate

Senate Committee on Finance discharged, by petition, pursuant to 5 U.S.C. 802(c).

Feb 12, 2025

Senate Committee on Finance discharged, by petition, pursuant to 5 U.S.C. 802(c).

Mar 4, 2025Senate

Passed Senate without amendment by Yea-Nay Vote. 70 - 27. Record Vote Number: 102. (text: CR S1488)

Mar 4, 2025

Passed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 70 - 27. Record Vote Number: 102.

Mar 4, 2025Senate

Measure laid before Senate by motion. (consideration: CR S1471, S1477, S1485-1488)

Mar 4, 2025Senate

Motion to proceed to consideration of measure agreed to in Senate by Yea-Nay Vote. 70 - 28. Record Vote Number: 101. (CR S1470-1471)

Mar 6, 2025Senate

Message on Senate action sent to the House.

Mar 10, 2025House

Held at the Desk

Mar 10, 2025House

Received in the House

Mar 11, 2025House

Papers returned to Senate pursuant to H. Res. 212

Mar 12, 2025Senate

Message received in Senate: Returned to the Senate pursuant to the provisions of H.Res. 212.

Votes

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Nay

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Floor votes and chamber actions

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Recorded roll calls

Geography

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No public positions recorded for this legislation.

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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".

Progress