It will be a bitter pill for some in the crypto world, but strong regulation of stablecoins is necessary to maintain the dollar's status as the world's reserve currency.

Revolut Ltd. plans to increase its crypto headcount by 20% across Europe, the U.K. and U.S. over the next six months, a bright spot in the current digital-assets industry downturn and a rare sign of growth against the backdrop of a wider slowdown in hiring by tech firms.

A draft letter obtained by American Banker would ask acting Comptroller Michael Hsu to rescind several interpretive letters issued during and following the Trump administration that gave banks cover to pursue certain crypto activities.  

The president of the Federal Reserve Bank of Minneapolis doubled down on his call for stiffer capital requirements and said master account access decisions should stay with the regional Fed banks.

A push in Washington to transform the U.S. derivatives regulator into a top crypto watchdog is gaining steam with a Senate bill that would give the Commodity Futures Trading Commission sweeping new powers to oversee the asset class.

Robinhood Markets' cryptocurrency arm was fined $30 million by New York's financial regulator after the brokerage was accused of violating anti-money-laundering and cybersecurity rules.

Rumors of a bipartisan bill to set common standards for stablecoins have been circulating for more than a week, but any legislation will now have to wait until after the August recess.