Overturn the Internal Revenue Service rule “Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating…”
S.J.Res. 3 · Taxation
What it does
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.
Summary by the Congressional Research Service (Introduced in Senate), via GovInfo BILLSTATUS. Text, sponsors and history on Congress.gov. Sponsor: Sen. Cruz, Ted [R-TX].
Senate vote
Joint Resolution Passed 70–27 on March 4, 2025 · On the Joint Resolution
Democrats 18–26, Independents 1–1, Republicans 51–0
Source: Official roll call · Voteview
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