S.B. 4830, which strengthen the authority of the United States Secret Service to investigate various crimes related to digital asset transactions and to counter transnational cyber criminal activity, including unlicensed money transmitting businesses, structured transactions, and fraud against financial institutions, and for other purposes, was introduced, read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

The House of Representatives failed to overturn a Presidential veto relating to SAB 121, an SEC accounting rule that prevents banks from providing digital asset custody, reports Ledger Insights.

The U.S. House of Representatives passed a bipartisan resolution to overturn the Securities and Exchange Commission’s Staff Accounting Bulletin 121 (SAB 121), which restricts banks from offering digital asset custody services, reports Ledger Insights. However, the Biden administration said in a statement on 8 May that it would veto H.J. Res. 109, which intends to overturn SAB 121.

H.R. 8266, which places a two-year moratorium on financial institutions handling, using, or transacting with funds routed through digital asset mixers and to require the Secretary of the Treasury to carry out a study of digital asset mixers, and for other purposes, was introduced and referred to the House Committee on Financial Services.

The House Financial Services Committee passed a resolution to reject the SEC’s accounting rule which prevents banks from providing digital asset custody, reports Ledger Insights.