U.S. lawmakers' efforts to pass significant crypto legislation by the end of the year are on life support, leaving in place Washington's scattershot approach to digital coins. 

In global news this week, Societe Generale makes a fintech acquisition, Mastercard expands in Latin America, Argentina fuels crypto mining, and more.

The European Union is looking to exchange views on the development of crypto legislation with U.S. officials during next week's International Monetary Fund-World Bank annual meetings, as calls grow for a more coordinated global regulatory framework.

The Biden administration is methodically laying out a regulatory framework for crypto markets, but until that is in place it's allowing those markets to reap what they have sown.

The report from the Financial Stability Oversight Council on cryptocurrency also urges action to prevent regulatory arbitrage and for regulators to study direct access to markets by retail customers.

The bitcoin firm NYDIG, which counts some of the biggest Wall Street banks as its partners, appointed a new chief executive and president, the latest changing of the guard in the battered crypto industry.

The company behind the digital coin Hydro and a crypto market-making firm tried to artificially inflate the token's price after it was offered through a so-called airdrop, according to the Securities and Exchange Commission.

A House proposal to restrict stock ownership and trading by members of Congress, the president and vice president, Supreme Court justices and other high-ranking government officials is mired in Democratic infighting, threatening supporters' hopes for a pre-election victory.

Republicans from the Senate Banking and House Financial Services committee argue the crypto bank should have been granted access to the Fed's payment systems, warn of 'dangerous precedent' on state banking regulation.

Celsius Network Chief Executive Alex Mashinsky, who founded the embattled crypto startup and served as pitchman for the sky-high yields it promised to its thousands of investors, is stepping down as the company works its way through bankruptcy.

During a panel discussion with other central bankers, the Federal Reserve chair weighed in on digital currencies, public and private alike. He also called on Congress to pass authorizing legislation of digital-asset regulation.

The JPMorgan Chase CEO didn't mince words when a U.S. lawmaker mentioned the executive's history of criticizing cryptocurrencies.

The product of bipartisan negotiations reviewed by American Banker gives nonbanks the all-clear to issue stablecoins, but keeps the licensing powers with the Federal Reserve and bars algorithmic stablecoins for two years.

The saga over cryptocurrency regulation took another twist courtesy of a comment buried in a Securities and Exchange Commission lawsuit that hints at a case for U.S. jurisdiction over the ethereum blockchain.

A new Treasury Department request for comment invites the public to weigh in on how cryptocurrencies are used in illegal activities. It's part of the Biden administration's larger push to create a regulatory framework for digital assets.

The cryptocurrency firm Ripple Labs sought to defeat a Securities and Exchange Commission suit by claiming that its XRP token isn't a security subject to the regulator's authority.

The founder of a cryptocurrency research firm was accused by the Securities and Exchange Commission of promoting an initial coin offering without disclosing that he had been paid $5 million to do so.

President Biden called on the SEC, CFPB and other agencies to vigorously use their enforcement powers to combat consumer scams and financial crimes involving cryptocurrencies; issue rules that address emerging risks tied to digital assets; share data on consumer complaints; and promote a modernized payment system.

Despite the market fluctuations, digital assets such as stablecoins are gaining ground as a point of sale option — but there's still a lot of work to be done before the average consumer is using crypto for everyday transactions.

Credit union members are twice as likely to own cryptocurrencies as nonmembers, and 25% of credit unions plan to launch crypto services, studies show. Here's a look at why that is, and the opportunities this trend presents.