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S.J.Res. 3

U.S. Senate•Engrossed

Summary

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"”, was introduced in the Senate on Jan 21, 2025 by Sen. Ted Cruz (R) with 14 co-sponsors. It last saw action on Mar 12, 2025: Message received in Senate: Returned to the Senate pursuant to the provisions of H.Res. 212.

Record

Text

S.J.Res. 3 has 14 co-sponsors and 2 roll calls.

sjr3/engrossed-in-senate.txt
119 SJ 3 ES: 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”.
 U.S. Senate
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 119th CONGRESS  1st Session  S. J. RES. 3  IN THE SENATE OF THE UNITED STATES  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 .
That Congress disapproves the rule submitted by the Internal Revenue Service relating to  Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales  (89 Fed. Reg. 106928 (December 30, 2024)), and such rule shall have no force or effect.
    Passed the Senate March 4, 2025.    Secretary

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

  1. Introduced2025-01-21
  2. Passed Senate2025-03-04
  3. Passed House
  4. Conference
  5. To President
  6. Became Law

CRS Summary

The summaries are the Congressional Research Service’s, one per stage. Read them in full.

Introduced in Senate Jan 21, 2025

sjr3/introduced-in-senate.md

Shown Here:
Introduced in Senate (01/21/2025)

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.

Sponsors

Sen. Ted Cruz (R) sponsors S.J.Res. 3, and 14 members have co-sponsored it, 5 of them from the day it was introduced.

Committees

S.J.Res. 3 went before 1 committee: Finance.

Finance
Finance
Discharged From · Feb 12, 2025 · 902 Bills

Actions

S.J.Res. 3 has taken 13 actions since Jan 21, 2025, the latest on Mar 12, 2025.

ChamberAction
Mar 12, 2025
Senate
Message received in Senate: Returned to the Senate pursuant to the provisions of H.Res. 212.
Mar 11, 202514:15
House
Papers returned to Senate pursuant to H. Res. 212
Mar 10, 202518:30
House
Received in the House
Mar 10, 202518:41
House
Held at the Desk
Mar 6, 2025
Senate
Message on Senate action sent to the House.

Votes

S.J.Res. 3 went to 2 roll calls in the Senate, the latest on Mar 4, 2025 at 70–27.

ChamberQuestion
Yea
Nay
Mar 4, 2025
Senate
On the Joint Resolution
70
27
Mar 4, 2025
Senate
On the Motion to Proceed
70
28

2 bills are related to S.J.Res. 3.

Titles

S.J.Res. 3 goes by 2 titles.

  • 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". — Official Title as Introduced
  • 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". — Display Title

Lobbying

9 clients hired 9 firms and 20 registered lobbyists who named S.J.Res. 3 in 26 quarterly filings, 2025 to 2026. Reported under the Lobbying Disclosure Act; a filing’s income covers everything its registrant worked that quarter, so the amounts below are the filings’, not this bill’s.

Filed under Taxation/Internal Revenue Code, Banking, Financial Institutions/Investments/Securities, Energy/Nuclear, Commodities (big ticket), Computer Industry, Science/Technology, Telecommunications.

Clients

Who paid to be heard, by how many filings named the bill.

ClientBusinessStateFirmsFilingsReported
BLOCKCHAIN ASSOCIATIONThe Blockchain Association is a trade association representing the blockchain industryDistrict of Columbia28$50K
DIGITAL CURRENCY GROUPSupport bitcoin & blockchain companies by leveraging insights, network & access to capitalConnecticut16—
FILECOIN FOUNDATIONSupport open-source software/protocols for decentralized data storage & retrieval networksDelaware23$20K
SOLANA POLICY INSTITUTE501(c)(4) social welfare organizationVirginia13—
EXODUS MOVEMENT, INC.Providing users with a noncustodial software wallet to safely manage their digital assetsNebraska12—
DEFI EDUCATION FUNDEducation on decentralized finance and achieve regulatory clarity for the DeFi ecosystem.Virginia11$60K
LEDGERTechnology manufacturing and service provider—11$40K
ANCHOR LABS, INC.Crypto platform that provides integrated financial services and infrastructure solutions.California11—
UNISWAP LABSSoftware developmentNew York11—

Firms

Registrants who filed on the bill, by filings.

RegistrantClientsFilingsReported
BLOCKCHAIN ASSOCIATION17—
DIGITAL CURRENCY GROUP16—
GOLDSTEIN POLICY SOLUTIONS LLC33$130K
SOLANA POLICY INSTITUTE13—
EXODUS MOVEMENT, INC.12—
FILECOIN FOUNDATION12—
ANCHOR LABS, INC.11—
CAPITOL ASSET STRATEGIES11$40K
UNISWAP LABS11—

Lobbyists

Named on the filings that cite the bill.

LobbyistFirmsClientsFilings
KRISTIN SMITH228
JULIE STITZEL116
TIFFANY ANGULO116
ELLIE SMALL115
JESSICA MARTINEZ115
RON HAMMOND115
SARAH MILBY115
SUMMER MERSINGER115
COLIN MCLAREN113
LON GOLDSTEIN133
MILLER WHITEHOUSE-LEVINE113
DAVID GRIMALDI112
JACOB HAMPLE112
JEREMY EPNER112
LINDSAY FRASER222
TIMOTHY HITE112
ASHOK PINTO111
CHRISTOPHER HAYES111
JASON MULVIHILL111
KEVIN WYSOCKI111

Filings

The documents themselves, on the Senate’s Lobbying Disclosure site, largest reported first.

ClientRegistrantPeriodReportedDocument
SOLANA POLICY INSTITUTESOLANA POLICY INSTITUTE2025 fourth_quarter$590K4th Quarter - Report
SOLANA POLICY INSTITUTESOLANA POLICY INSTITUTE2025 third_quarter$560K3rd Quarter - Amendme…
SOLANA POLICY INSTITUTESOLANA POLICY INSTITUTE2025 third_quarter$560K3rd Quarter - Report
BLOCKCHAIN ASSOCIATIONBLOCKCHAIN ASSOCIATION2025 fourth_quarter$520K4th Quarter - Report
BLOCKCHAIN ASSOCIATIONBLOCKCHAIN ASSOCIATION2025 second_quarter$490K2nd Quarter - Amendme…
BLOCKCHAIN ASSOCIATIONBLOCKCHAIN ASSOCIATION2025 third_quarter$490K3rd Quarter - Amendme…
BLOCKCHAIN ASSOCIATIONBLOCKCHAIN ASSOCIATION2025 second_quarter$490K2nd Quarter - Report
BLOCKCHAIN ASSOCIATIONBLOCKCHAIN ASSOCIATION2025 first_quarter$470K1st Quarter - Amendme…
BLOCKCHAIN ASSOCIATIONBLOCKCHAIN ASSOCIATION2025 first_quarter$470K1st Quarter - Report
DIGITAL CURRENCY GROUPDIGITAL CURRENCY GROUP2025 fourth_quarter$440K4th Quarter - Report
BLOCKCHAIN ASSOCIATIONBLOCKCHAIN ASSOCIATION2025 third_quarter$430K3rd Quarter - Report
DIGITAL CURRENCY GROUPDIGITAL CURRENCY GROUP2025 third_quarter$420K3rd Quarter - Report
DIGITAL CURRENCY GROUPDIGITAL CURRENCY GROUP2026 second_quarter$410K2nd Quarter - Report
DIGITAL CURRENCY GROUPDIGITAL CURRENCY GROUP2026 first_quarter$380K1st Quarter - Report
DIGITAL CURRENCY GROUPDIGITAL CURRENCY GROUP2025 second_quarter$380K2nd Quarter - Report
DIGITAL CURRENCY GROUPDIGITAL CURRENCY GROUP2025 first_quarter$310K1st Quarter - Report
FILECOIN FOUNDATIONFILECOIN FOUNDATION2025 first_quarter$150K1st Quarter - Amendme…
FILECOIN FOUNDATIONFILECOIN FOUNDATION2025 first_quarter$140K1st Quarter - Report
ANCHOR LABS, INC.ANCHOR LABS, INC.2025 first_quarter$120K1st Quarter - Report
UNISWAP LABSUNISWAP LABS2025 first_quarter$90K1st Quarter - Report

Classification

The Congressional Research Service files S.J.Res. 3 under Taxation, one of its 31 policy areas, and gives it 7 legislative subjects.

CRS Subjects

CRS assigns every bill one policy area from its 31; S.J.Res. 3’s is Taxation.

sjres3/policy-areas.txt
TaxationAgriculture and FoodAnimalsArmed Forces and National SecurityArts, Culture, ReligionCivil Rights and Liberties, Minority IssuesCommerceCongressCrime and Law EnforcementEconomics and Public FinanceEducationEmergency ManagementEnergyEnvironmental ProtectionFamiliesFinance and Financial SectorForeign Trade and International FinanceGovernment Operations and PoliticsHealthHousing and Community DevelopmentImmigrationInternational AffairsLabor and EmploymentLawNative AmericansPublic Lands and Natural ResourcesScience, Technology, CommunicationsSocial WelfareSports and RecreationTransportation and Public WorksWater Resources Development

Legislative Subjects

S.J.Res. 3 carries 7 of CRS’s legislative subjects, from Administrative law and regulatory procedures to Tax administration and collection, taxpayers.

sjres3/subjects.txt
Administrative law and regulatory proceduresCongressional oversightCurrencyDigital mediaFinancial services and investmentsInternal Revenue Service (IRS)Tax administration and collection, taxpayers

Source: congress.gov · legiscan.com