The Federal Deposit Insurance Corp. said in a report released Friday that Signature's rapid, unrestrained growth and inadequate risk management practices outpaced supervisors' ratings and responses, even though the issues were known to the agency.

Rep. French Hill, R-Ark., said the House Financial Services Committee and the House Agriculture Committee will hold a joint hearing on crypto next month.

The Federal Reserve's final rule severely restricting the ability of state member banks to engage in crypto-related activities was released without a legally required period of notice and comment.

A House Financial Services Committee aide said that the bill is meant to restart discussions with Democratic lawmakers and the White House over how to regulate stablecoins.

Financial institutions and their trade groups fear a loss of funding for loans if customers migrate in large numbers to a central bank digital currency, according to comments to the Federal Reserve about a possible digital dollar. Industry officials are also worried about heightened cybersecurity and money laundering risks.

The Federal Reserve governor addressed misconceptions about the forthcoming instant payment system after delivering remarks on financial innovation.

A House hearing showcased a bipartisan consensus on the need to regulate stablecoins, but the parties disagree down to the definitions, making the legislation's future uncertain.

Securities and Exchange Commission Chairman Gary Gensler emphasized the connection between the cryptocurrency market and the recent banking crisis in testimony on Capitol Hill. He seeks more resources to police crypto firms whose business model, he says, is "noncompliance."

Companies holding a Bitlicense will have to follow similar standards for consumer protection, safety and soundness, and pay more to cover the cost of regulations.

The committee will consider draft legislation governing stablecoins at a hearing on Wednesday featuring New York Department of Financial Services Superintendent Adrienne Harris.

The chief strategy officer of Circle argues that the future of the industry hinges on what market participants — and Congress — choose to do right now.

A former comptroller of the currency worries that, in the current frenzy to right crypto's wrongs, Washington will go too far and inadvertently undercut the U.S. banking system.

Stablecoins are supposed to hold a constant value, typically $1, giving crypto investors a place to park funds as they navigate the highly volatile digital-asset market. An inflation protection overlay would tap into demand for a cushion against elevated post-pandemic price pressures.

The Fed slightly raised interest rates, Amazon brings 'palm payments' to Panera Bread, the SEC cracks down on Lindsay Lohan, and more.

The Office of Financial Research — a Treasury agency tasked with examining sources of systemic financial risk — published a report that found that full integration of a central bank digital currency could hurt banking-sector stability but offers significant benefits for consumers.

Stablecoin giant Circle is planning to locate its European headquarters in Paris, citing the crypto-friendly climate created by President Emmanuel Macron's government as instrumental to the decision.

The shutdowns of Silvergate Capital and Signature Bank are likely to send crypto-related businesses and digital asset innovation offshore.

Flagstar Bank, a subsidiary of New York Community Bancorp, will buy most of failed Signature Bank, but it's not taking Singature's digital-assets business as part of the deal.

Coinbase has yet to decide where the platform might be based, but it has been speaking to market makers about connecting to it.

NatWest joins U.K. banks in limiting crypto, Mastercard teams with fintech in the UAE, and more.