As efforts to regulate the rapidly growing cryptocurrency market increase, some observers are raising concerns about the rising number of U.S. lawmakers beginning to dabble in digital assets.

Custodia Bank (formerly Avanti Bank) and Kraken Bank have been in a holding pattern for two and a half years as they wait for Federal Reserve master accounts.

Moves by financial heavyweights — and one banker’s profile reinvention — underscore how far Wall Street firms have come in accepting cryptocurrencies.

Anchorage Digital Bank has an inadequate AML compliance program and will have to create a committee within 15 days to develop a remediation plan and submit progress reports, according to the Office of the Comptroller of the Currency.

Britain’s prior approach to regulating financial technology has been held up as the de facto bar, industry executives say — but on crypto, its more risk-averse outlook has stymied the sector’s growth. 

Robinhood Markets agreed to acquire Ziglu, a London-based crypto and payments company, ending the U.S. brokerage’s long pause on international expansion.

The Federal Reserve has hired five executives from the stablecoin issuer Circle and at least one employee of Ripple since 2019 as part of its technology-focused recruiting efforts. It plans to do more hiring in the years ahead to aid its work on faster payments and central bank digital currencies.