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Ending New Digital Asset Transfer Reporting Requirements

This bill aims to remove provisions that introduced new information reporting requirements for digital asset transfers, such as cryptocurrencies. This means citizens and businesses will not have to report these transactions in a way that would have been required by the previous law. In practice, for individuals holding digital assets, this means no additional formalities related to their transfers.
Key points
No new reporting obligations for digital asset transfers (e.g., cryptocurrencies) for citizens.
Restoration of previous rules regarding digital transaction reporting, without additional requirements.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_S_3206
Sponsor: Sen. Cruz, Ted [R-TX]
Process start date: 2021-11-16
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

A bill to repeal the provisions of the Infrastructure Investment and Jobs Act that impose new information reporting requirements with respect to digital asset transfers.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_3206.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-11-16.

What are the main provisions?

Key points include:

  • No new reporting obligations for digital asset transfers (e.g., cryptocurrencies) for citizens.
  • Restoration of previous rules regarding digital transaction reporting, without additional requirements.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Cruz, Ted [R-TX].

What is the latest detailed status?

The latest detailed status is: Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 168.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Taxes Economy