U.S. Sen. Elizabeth Warren wants an accounting from Federal Reserve Chair Jerome Powell and other top bank watchdogs on the links that major lenders have with the crypto industry following FTX's spectacular collapse.

U.S. Sens. Sherrod Brown and Patrick Toomey have asked Sam Bankman-Fried to testify at a hearing on Dec. 14 about the cryptocurrency exchange FTX's collapse, according to a letter issued Wednesday.

The European Union proposed new rules Thursday to combat tax fraud and evasion in the crypto sector by requiring all digital-asset service providers to report transactions involving customers residing in the bloc.

An administrative law judge has recommended that a trio of onetime Wells executives be ordered to pay a combined $18.5 million in connection with the bank's fake-accounts scandal.

The Federal Reserve terminated a 2016 agreement with the Industrial Bank of Korea and its New York branch for processing more than $1 billion in sanction-violating transactions.

A former Federal Reserve official argues that current rules allow banks to begin trading in crypto assets with virtually no oversight.

In global news this week, the EU cracks down on buy now/pay later; France conducts digital currency test, Tencent launches cross-border payments, and other news.

An end-of-year push to attach a marijuana banking bill to a must-pass defense measure is facing stiff resistance from Senate Republicans and complicating the delicate lame-duck endgame for Democratic leaders soon to lose control of the House.

Banks are starting to have a tougher time obtaining funds in the financial system as the Federal Reserve shrinks its balance sheet and hikes interest rates, leaving analysts searching for any signs that the strains are approaching the magnitude of past credit crunches.

The revised policy increased maximum penalties for the largest banks, outlined stronger accountability measures and expanded the OCC's authority to restrict business activities.

The crypto bank Silvergate Capital was asked by three U.S. senators to release all records about transfers of funds for the collapsed FTX empire of Sam Bankman-Fried.

The Consumer Financial Protection Bureau is investigating how the Jack Dorsey-led company handles fraud on its person-to-person payments app. After the bureau accused Block of dragging its feet, a federal magistrate judge gave the company a Jan. 5 deadline.

A federal judge will soon decide whether depositors at Celsius Network gave up ownership of their cryptocurrencies in exchange for interest payments, a key legal issue that could echo through other crypto bankruptcies.

The crypto lender Nexo Inc. is phasing out its products and services in the U.S. market after facing cease-and-desist orders from multiple states over its interest-earning products.

Circle Internet Financial, the issuer of the world's second-largest crypto stablecoin, said its planned merger with the special-purpose acquisition company Concord Acquisition that was once valued at $9 billion has been called off.

The Federal Reserve Board of Governors said it only needs to disclose records about its decision making process, but Custodia says the central bank is playing by its own rules.

Most theories of the case for ESG investing demand that companies act in ways that are counter to the interests of their shareholders.

Institutions outside the U.S. are holding an estimated $65 trillion in "missing" dollar debt off their balance sheets through currency derivatives, making it harder for global policymakers to anticipate the next financial crisis.

A new business group led by Republican heavyweights will launch its first seven-figure ad campaign this week. The target: legislation taking aim at a key source of revenue for Visa and Mastercard.

The Federal Reserve Board of Governors voted 6-1 to seek public comment on a new regulatory framework for climate-related financial risks. The requirements would add to existing risk management standards.