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".
S.J.Res. 3119th CongressTaxation
- Introduced
- Jan 21, 2025
- Latest action
- Message received in Senate: Returned to the Senate pursuant to the provisions of H.Res. 212.
- Mar 12, 2025
Recorded votes
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senateS.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".Vote on the resolutionJoint Resolution Passed70–27senateS.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".Vote to start debateMotion to Proceed Agreed to70–28
Summary
Written by the nonpartisan Congressional Research Service.
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.