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".

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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 21 January 2025

   Introduced

   Introduced in Senate

   Source: IntroReferral

2. 21 January 2025

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

3. 12 February 2025

   Calendars

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

   Source: Calendars

4. 12 February 2025

   Discharge

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

   Source: Discharge

5. 12 February 2025

   Committee

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

   Source: Committee

6. 4 March 2025

   Vote

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

   Source: Floor

7. 4 March 2025

   Vote

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

   Source: Floor

8. 6 March 2025

   Floor

   Message on Senate action sent to the House.

   Source: Floor

9. 10 March 2025

   Floor

   Held at the Desk

   Source: Floor

10. 10 March 2025

    Floor

    Received in the House

    Source: Floor

11. 11 March 2025

    Floor

    Papers returned to Senate pursuant to H. Res. 212

    Source: Floor

12. 12 March 2025

    Floor

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

    Source: Floor

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

4 official files

• Engrossed in Senate

  Engrossed in Senate · EN · 4 March 2025

  DownloadOpen at official source

• Placed on Calendar Senate

  Placed on Calendar Senate · EN · 12 February 2025

  DownloadOpen at official source

• Introduced in Senate

  Introduced in Senate · EN · 21 January 2025

  DownloadOpen at official source

• Introduced in Senate

  summary · EN · 21 January 2025

  Open at official source

Sponsors

• Sen. Cruz, Ted [R-TX] · R · Sponsor
• Sen. Lummis, Cynthia M. [R-WY] · R · Sponsor
• Sen. Hagerty, Bill [R-TN] · R · Sponsor
• Sen. Tillis, Thomas [R-NC] · R · Sponsor
• Sen. Sheehy, Tim [R-MT] · R · Sponsor
• Sen. Budd, Ted [R-NC] · R · Sponsor
• Sen. Moreno, Bernie [R-OH] · R · Cosponsor
• Sen. Curtis, John R. [R-UT] · R · Cosponsor
• Sen. Cotton, Tom [R-AR] · R · Cosponsor
• Sen. Lee, Mike [R-UT] · R · Cosponsor
• Sen. Banks, Jim [R-IN] · R · Cosponsor
• Sen. Daines, Steve [R-MT] · R · Cosponsor
• Sen. Blackburn, Marsha [R-TN] · R · Cosponsor
• Sen. Scott, Tim [R-SC] · R · Cosponsor
• Sen. McCormick, David [R-PA] · R · Cosponsor
• · ssfi00 · Standing

Related records

• related to → 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".
• related to ← Returning Senate Joint Resolution 3 to the Senate.