Non-stablecoin cryptocurrencies have no inherent value, so creating a federal "reserve" of them is absurd on its face. Chinese hacking of bitcoin will have no significant economic impact.

The Federal Reserve chair said banks are well situated to handle risks related to crypto customers, but added that regulatory scrutiny of banks' direct engagement with the assets will be greater than for simple custody arrangements.

The Czech Republic's central bank plans to shift billions of reserves to bitcoin. Plus Australia and the Netherlands crack down on BNPL, and other news from the world of payments.

There are reasons to be cautious about how a strategic reserve of the cryptocurrency is established, but the economic arguments for including it in the federal government's portfolio are strong.

Circle and other payment executives say Trump's stated support for digital assets will remove hurdles that have held back support from merchants and consumers.

The Senate Banking Committee and House Oversight Committee will hold hearings next week on banks dropping customers, an issue that has gained currency from crypto enthusiasts in recent months.

The executive order also calls for regulations to be written for the digital asset industry.

Hester Peirce and SEC Acting Chair Mark Uyeda say they want to group to devise a clear compliance framework for digital assets and end regulation by enforcement.

China currently dominates the market for the hardware and software used to mine cryptocurrency. Creating a large federal reserve would expose a major U.S. asset to potential Chinese meddling.

The avalanche of cases announced Friday included charges against a no-longer registered advisor and firm accused of misappropriating more than $20 million from clients.

A one-page outline of priorities for Trump's inauguration day obtained American Banker includes financial policy items, including firing Consumer Financial Protection Bureau Director Rohit Chopra, issuing a "reset" of that agency and designating crypto as a "national priority."

The bank, which owns a minority stake in Viva Wallet, can take over the company in June if its valuation falls before a certain level — which has resulted in a legal dispute with Haris Karonis, the fintech's owner. That and more in American Banker's weekly global payments roundup.

It's no accident that national banks have, so far, been insulated from major crypto disasters. Congress and the incoming administration should take heed and avoid eliminating the guardrails that have kept banks safe.

Leadership appointments and an influx of new crypto-friendly lawmakers suggest the 119th Congress could be the most fintech and crypto-friendly in years.

The Consumer Financial Protection Bureau issued an interpretive rule and a separate request for information aimed at Big Tech companies, digital payments and crypto assets.

Rep. Bill Huizenga, R-Mich., will take the No. 2 spot on the House Financial Services Committee, while Reps. Bryan Steil of Wisconsin, Dan Meuser of Pennsylvania and Mike Flood of Nebraska are elevated to subcommittee leadership.

Banks are taking hits in the stock market as they use 2024 to restructure balance sheets and inflation slightly increased in November.

With Securities and Exchange Commission Chair Gary Gensler preparing to step down, the CEO of Unicoin, which is being sued by the agency, expresses hope for more acceptance of cryptocurrencies by the incoming Trump administration.

Bankers expected big changes for community banks, digital assets and regulation. Were they correct?

From embedded finance to artificial intelligence to real-time processing, there are plenty of sources of competition and opportunity in the new year.