The Biden administration plans to select Kristin Johnson, a law professor who previously worked on Wall Street, for a Democratic seat on the Commodity Futures Trading Commission, according to a person familiar with the matter.

Regulators and the Biden administration are considering how to respond to the sharp growth in digital assets pegged to fiat currency. Their options include establishing rules like those for bank deposits and having the Federal Reserve issue a digital dollar that competes with private-sector stablecoins.

David Marcus, Facebook's financial services chief, discusses how its Novi digital wallet and the Diem stablecoin project it's involved in can be the backbone of a platform that offers real-time digital transactions, acts as a merchant acquirer and helps commercial banks handle central bank digital currencies.

The U.S.’s measured approach will allow it to learn from other countries that are pioneering their own cryptocurrencies, according to executives from IBM, R3 and Public Mint.

Citigroup is considering whether to offer its biggest clients trading in Bitcoin futures as Wall Street continues its push into cryptocurrencies.

Finance that relies on smartphones and smart contracts can lower costs for banking services and promote financial inclusion, proponents say. But a look at who is using the technology tells a different story.

The Federal Reserve has been circumspect about whether it will issue its own digital currency. Observers are looking to an upcoming report by the central bank for clarity about its intentions and how a digital dollar would work with private stablecoins.