Bipartisan legislation before Congress would create sensible regulation for stablecoins, opening a path to cementing the U.S. dollar's status as the world's most important currency.

In a packed courtroom, a federal judge parsed whether the Trump administration's aggressive actions to rein in the Consumer Financial Protection Bureau are part of a "normal" transition of power or would impede its statutorily required functions.

In a letter to Federal Reserve Chair Jerome Powell, Sen. Elizabeth Warren called on the Fed to impose penalties and sanctions on leaders of the failed bank.

President Trump and Elon Musk probably would not have put Rohit Chopra and his CFPB on their hit list had he run it with common sense, balancing the interests of both the financial industry and their consumers. An independent and consolidated federal consumer financial protection agency is needed, but only if a fair-minded leader runs it.

The Office of the Comptroller of the Currency reversed policies on crypto banking, withdrawing its guidance on custody, stablecoin reserves and risk management requirements.

Federal Reserve Chair Jerome Powell emphasized the need for patience amid uncertainty over the Trump administration's policies, saying there would be no immediate rate changes but that the Fed would proceed carefully.

Federal Reserve Gov. Michelle Bowman, one of the central bank's more inflation-wary officials, said the balance of risks for monetary policymaking could soon shift.