The Week In Crypto Policy: DeFi Sanctions Bill, Approps, Tokenization

A bill to expand Treasury's authority to sanction digital asset transaction facilitators is included a Senate bill that passed out of the Senate Intelligence Committee with unanimous support. In the House, an Appropriations subcommittee advanced a bill with provisions to prohibit funding for the SEC to enforce SAB 121, Treasury to build a CBDC, and SEC enforcement actions involving digital asset transactions until there is more regulatory clarity. In addition, a House Financial Services subcommittee explored the benefits and risks related to tokenizing real-world assets. Finally, President Biden vetoed a SAB 121 repeal last Friday, claiming it would have "inappropriately constrained" the SEC's ability to provide accounting guidance.