During third-quarter earnings calls, Bill Demchak of PNC raised concerns about stablecoins, while Jane Fraser of Citigroup pledged that there will be accountability for fixing her company's regulatory troubles and Jamie Dimon of JPMorgan Chase sounded downbeat about the Biden-era regulatory environment.

The partnership enables issuers to offer credit and debit cards to spend crypto balances.

Until we have true interoperability across payments platforms, competition will be stunted. Cryptocurrencies offer a model solution to breaking the hold banks and card networks have on consumer choice.

Finastra, a technology vendor to credit unions and small banks, is adding the Bakkt digital asset app to its platform. This will allow clients' customers to buy, sell and hold digital assets like Bitcoin.

While federal agencies debate how to regulate cryptocurrency-related businesses, Wyoming and Nebraska have already created a special-purpose charter, and Illinois is close to finalizing its own.

The unnamed firms must shut down because they lack securities registration, according to an order issued by state Attorney General Letitia James. Her office asked three other cryptocurrency-related companies to submit detailed explanations of their business models.

Bill Demchak, whose company plans to allow crypto trading through a mobile app, nonetheless expressed concern that digital currencies pegged to the dollar could affect central banks’ ability to control the money supply.

Tether will pay $41 million to settle allegations it lied in claiming its digital tokens were fully backed by fiat currencies, putting a major compliance headache behind the world’s biggest issuer of stablecoins even as regulatory scrutiny intensifies.

A central bank digital currency based on the U.S. dollar could pull deposits from banks, and it might crowd out innovative private-sector products.

The cryptocurrency exchange, which has been embroiled in a dispute with the Securities and Exchange Commission, says the federal government should create a stand-alone body to supervise the marketplace for digital assets.

After extending its deadline for request for comment on cryptocurrency by a month, the National Credit Union Administration heard from credit unions and other organizations that want clarity on the boundaries the agency plans to set.

The cryptocurrency market is double the size of the subprime debt in the U.S. on the eve of the financial crisis and poses a threat unless urgently regulated, the Bank of England said.

The payments firm dropped support for Bitcoin payments in 2018, but company executives say the increasing popularity of digital currency makes it a good time to reenter the market.

Regulators’ efforts to open the federal banking system to crypto firms and other nonbanks have been hampered by differing legal interpretations and challenges by state regulators. Congressional action updating the 19th-century law could bring much-needed clarity, observers say.

The bank-supported blockchain organization plans to use the acquired assets to speed testing for digital currencies.

The partnership with Stellar Development Foundation will integrate MoneyGram’s network with the Stellar blockchain to facilitate payments using Circle Internet Financial’s USD Coin. 

The Justice Department is creating a new team to investigate and prevent hackers from using cryptocurrency exchanges to remain anonymous while extorting money from victims of their attacks, Deputy Attorney General Lisa Monaco said Wednesday. 

The disclosure was made as part of a filing about Circle’s planned merger with the special purpose acquisition company, Concord Acquisition Corp.

Calls are getting louder for the crypto firms to be regulated the way banks are. Here's why Circle, Paxos and Gemini, top issuers of the increasingly popular digital dollars, say they welcome new rules.

A U.S. effort to regulate stablecoins favors policing them like lenders, which could jeopardize the future of tokens from firms that refuse to seek federal banking licenses.