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".

S.J. Res. 3 is not a rewrite of tax law. It is a Congressional Review Act resolution that rejects a specific IRS rule on "gross proceeds" reporting by brokers involved in digital asset sales. In plain English, the rule would have required certain businesses that help people sell digital assets to send more tax reporting information to the IRS and to taxpayers.

The Senate already passed the resolution on March 4, 2025. If the House also passes it and the president signs it, the IRS rule would have "no force or effect." That means the federal government could not enforce that particular reporting rule. Under the normal rules of the Congressional Review Act, agencies also face limits on issuing a future rule that is substantially the same unless Congress later authorizes it.

Supporters of the resolution are likely to argue the IRS rule was too broad and could have swept in businesses that are not traditional brokers, creating compliance headaches for crypto platforms and possibly for decentralized finance participants. They also may say the rule would generate confusing paperwork, impose costs, and discourage innovation in the U.S. digital asset market.

Opponents are likely to argue that canceling the rule would make it harder for the IRS to track crypto-related income and close the tax gap. They may say digital asset transactions should be reported more like stock sales so taxpayers and the government have clearer records. The core fight is straightforward: less burden on the crypto industry versus stronger tax reporting and enforcement.