S. 3206Senate117th Congress (2021-2023)Introduced

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.

AI-Generated Summary

Updated February 8, 2026 at 8:02 AM UTC

The bill aims to eliminate the new reporting rules for digital‑asset transfers that were added by the Infrastructure Investment and Jobs Act. It would remove those requirements, restoring the previous tax‑reporting framework. The change would affect anyone who transfers cryptocurrencies or other digital assets and currently must file information returns under the added rules. The repeal would take effect as soon as the bill becomes law.

Key Provisions

Repeals the amendments made by section 80603 of the Infrastructure Investment and Jobs Act, undoing the new information‑reporting requirements for digital‑asset transfers.
Restores the prior law as if the section had never been enacted, with the repeal becoming effective on the date the bill is enacted.

Legislative Activity

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2 earlier actions

SenateCalendars Latest Action

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 168.

November 16, 2021

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SenateIntro Referral

Introduced in Senate

November 15, 2021

SenateCalendars

Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.

November 15, 2021

SenateCalendars

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 168.

November 16, 2021

Floor Debate

3 members

What members said about S. 3206 on the floor

3 Democrats

Sen. Charles E. SchumerD-NY · Nov 15, 2021

Mr. President, I understand there is a bill at the desk, and I ask for its first reading. Mr. President, I now ask for a second reading, and in order to place the bill on the calendar under the…

Sen. Sheldon WhitehouseD-RI · Nov 16, 2021

Mr. President, I understand there is a bill at the desk that is due for a second reading. In order to place the bill on the calendar under the provisions of rule XIV, I would object to further…

Sen. Amy KlobucharD-MN · Apr 14, 2021

Mr. President, I ask unanimous consent for the legislative activities report of the Committee on Rules and Administration during the 116th Congress be printed in the Congressional Record.

Bill Text

Latest available legislative text

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Placed on Calendar SenateIssued November 16, 2021

Calendar No. 168

117th CONGRESS

1st Session

S. 3206

IN THE SENATE OF THE UNITED STATES

November 15, 2021

Mr. Cruz introduced the following bill; which was read the first time

November 16, 2021

Read the second time and placed on the calendar

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.

Repeal of new information reporting requirements with respect to digital asset transfers

(a)

In general

The amendments made by section 80603 of the Infrastructure Investment and Jobs Act are repealed and the provisions of law amended by such section are restored as if such section had never been enacted.

(b)

Effective date

The repeal made by subsection (a) shall take effect on the date of enactment of this Act.

November 16, 2021

Read the second time and placed on the calendar