In a 31 to 20 vote, the House Financial Services Committee voted to advance a resolution disapproving of a Securities and Exchange Commission accounting bulletin that banks say would undercut their ability to custody crypto.

According to a new study, pig-butchering scammers have likely stolen more than $75 billion from victims around the world.

Agencies including the SEC, Justice Department and CFTC have been trying to clean up crypto, recently targeting exchanges Binance, Kraken and Coinbase Global. 

The San Francisco-based technology company says its new product, Porto, will let investors securely trade more than 200 currencies using multilayered approval systems and biometric credentials.

Coinbase reported that some individual investors may see zero balances across their Coinbase accounts and experience errors in buying and selling.

A group of former FTX and Alameda Research employees plan to use the venture money to build out a cryptocurrency exchange called Backpack. It's one of the startups seeking to fill a gap left by the collapse of Sam Bankman-Fried's crypto empire. 

A report reveals Heartland Tri-State Bank's failure last year was due to its CEO being ensnared in a sophisticated investment scam that is taking more victims.

The major U.S. card networks are pursuing financial inclusion in Egypt, the Reserve Bank of India works to bring central bank digital currencies to more users, and other news in this week's global roundup.

With dominant industry personalities suddenly swept offstage, the evolving rules and regulations that will dictate the industry's future will be in the spotlight.

Heartland Tri-State Bank, which failed after its CEO allegedly embezzled money to fund cryptocurrency investments, had received $21 million in advances from the Federal Home Loan Bank System.

Federal prosecutors allege that Shan Hanes, the former CEO of the now defunct Heartland Tri-State Bank, illegally took money from customers to fund cryptocurrency investments. He could face up to 30 years in prison if convicted.

In correspondence with Rep. Andy Barr, R-Ky., the Federal Reserve and Office of the Comptroller of the Currency said the Securities and Exchange Commission's proposed safeguarding rule could change banks' custody businesses.

The $1 billion-asset institution shuttered its mobile banking platform for digital asset purchases on Wednesday, following a consent order from the Office of the Comptroller of the Currency received in October of last year.

PayPal hopes to demonstrate its coin's utility by using it to take a stake in a company called Mesh.

Zeke Faux, a Bloomberg journalist, describes his two-year odyssey to better understand cryptocurrencies in his book "Number Go Up." His work proves to be an entertaining deep dive into an industry riddled with scams.

The San Francisco technology company is partnering with Onramp Invest to offer registered investment experts tools for facilitating larger digital asset transactions.

Comments from SEC Chair Gary Gensler and market fundamentals have created ample reason for banks to stay away from crypto, despite early bird upsides.

Robinhood and a few other trading app providers immediately announced support for the newly approved spot bitcoin ETFs. But Vanguard announced this week it would not allow customers to invest in them.

Tech company Circle files for an IPO; Amazon wants to extend its Just Walk Out technology to hospitals; Pacific Financial expands in suburban Oregon; and more in the weekly banking news roundup.

While stablecoins do find utility as a base currency for navigating between volatile cryptocurrencies, their broader application as a fiat money alternative remains elusive.