The Federal Reserve issued an enforcement action against the former head of Heartland Tri-State Bank, who embezzled millions of dollars after falling victim to a crypto scam.

The embattled crypto bank announced that it will reduce operations and move to preserve capital after losing its banking partner earlier this month.

The payment company is using its Xoom transfer app to bring PYUSD to a broader market; while Barclays is reportedly in talks with Brookfield Asset Management to sell a portion of its payments business. That and more in our global payments news roundup.

The Financial Conduct Authority plans to regulate specific technology products that banks use to process payments and require testing. That and more in our global payments roundup.

The president-elect's deregulatory promises have drawn applause from banking groups, but some advisors warn that if the next administration extends that permissive posture to crypto, it could create significant headaches for banks.

Blockchain-powered transactions for businesses are still in their infancy, but use is expected to grow and banks stand to lose if they don't get up to speed.

A digital dollar is likely on the way out in favor of non-government crypto, but those betting for fewer restrictions on fees and less antitrust litigation will likely be disappointed.

Once a crypto skeptic, Trump corralled tens of millions of dollars in industry support for Republican candidates by promising to make America the Bitcoin superpower of the world.

Adam Schiff, known as a pro-cryptocurrency lawmaker, has also introduced bills that would regulate "revolving door" employment at banking regulators.

Stripe, Circle and Ripple all made deals in recent days to boost scale for a form of cryptocurrency that has struggled to reach mainstream consumers and businesses.