The crypto-friendly California bank ran into trouble last year following the collapse of the cryptocurrency exchange FTX and the flight of deposits held by crypto companies.

Federal Reserve Vice Chair for Supervision Michael Barr is set to give his first dedicated remarks on cryptocurrencies this week, and observers are looking for concrete examples of what regulators are going to do next in the volatile sector.

The Supreme Court's insistence that Congress expressly authorize regulatory action on 'major questions' is destined to run afoul of the administration's efforts to set rules of the road for cryptocurrency.

Acting Comptroller of the Currency Michael Hsu compared FTX's unwinding to the collapse of Bank of Credit & Commerce International, which similarly operated across borders to evade regulatory scrutiny.

The move comes after several banking regulators warned financial institutions they supervise of the dangers of exposure to crypto, including volatility.

Nationwide Building Society and HSBC Holdings toughened limits on retail customers' access to cryptoassets in the last week, becoming the latest U.K. banks to impose curbs after industry scandals and regulatory warnings.

Jack Dorsey's digital payment company Block said it will be using its own bitcoin reserves to provide liquidity to bitcoin's Lightning Network, a protocol meant to make transactions on the blockchain more efficient.

Sens. Cynthia Lummis, R-Wyo., and Kirsten Gillibrand, D-N.Y., said that the bill would address some concerns from various regulators, but will steer clear of addressing access to Federal Reserve master accounts.

In the starkest warning yet by a U.S. bank catering to the sector, Silvergate said it needs more time to assess the extent of damage to its finances stemming from last year's crypto rout — including whether it can remain viable.

This week's global news roundup include Canada's crackdown on crypto operators, Westpac's cloud project and more.