In a letter to Treasury Secretary Janet Yellen last week, the Massachusetts senator highlighted the growing use of cryptocurrencies by malicious organizations abroad and underscored the need for anti-money-laundering and counterterrorism provisions in future proposals.

Two Securities and Exchange Commission lawyers stepped down this month after a federal judge sanctioned and sharply rebuked the Wall Street regulator for "gross abuse" of power in a crypto case.

Despite its game-changing potential, crypto adoption has remained relatively low, hampered by an unsavory reputation and lack of regulations. Advancements and clarity in regulations and oversight are needed.

The Securities and Exchange Commission has asked a judge to impose a penalty on Ripple that roughly matches the amount of profit the agency estimates Ripple and its leaders made from sales of XRP, which the SEC says are unregistered securities.

Many assumed the advent of cryptocurrencies heralded a revolution in finance. The truth may be that crypto's overall impact on the financial services industry is more evolutionary than revolutionary.

Once a prominent figure spurring financial institutions to engage in cryptocurrency, Bankman-Fried's downslide began with the collapse of the digital asset exchange FTX in late 2022 and hit rock bottom with his sentencing to 25 years in prison.

A federal judge in New York ruled that the Securities and Exchange Commission can proceed with its lawsuit against the cryptocurrency-trading platform Coinbase, claiming the company failed to register as a securities business.

A month after the collapse of FTX, federal prosecutors filed eight charges against crypto mogul Sam Bankman-Fried. Four of them involved wire fraud.

Rep. Tom Emmer, R-Minn., majority whip of the U.S. House, says Financial Services Committee Chairman Patrick McHenry's digital market structure bill could be ready for a vote in the full chamber.

Federal Deposit Insurance Corp. Vice Chair Travis Hill Monday criticized his agency's lack of clarity on digital assets, warning that the current approach risks hindering U.S. influence in the global rollout of blockchain at banks.

PayPal expands Tap to Pay for iPhone payments; BNY Mellon's securities services leader exits; FleetCor rebrands as Corpay; and more in this week's banking news roundup.

Clients that have a brokerage account with either bank can invest in the exchange-traded funds tied to the spot price of bitcoin, as the currency's value sits at historic highs.

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.