Trump administration

The final vote was 68-29 in favor of Senate the confirmation of the billionaire hedge fund manager.

President Donald Trump and the first lady released their own cryptocurrencies. Experts compare them to Beanie Babies and dogecoin.

Bankers applauded the news, which means that it's possible for crypto-custody efforts at depository institutions to scale.

Industry representatives such as the European Banking Federation are lobbying the European Commission to push back stricter capital standards rules until the beginning of 2027.

The executive order also calls for regulations to be written for the digital asset industry.

Experts say the Trump administration is waiting for Scott Bessent to be confirmed as treasury secretary and for other appointees to clear the Senate before naming acting heads at federal banking agencies.

Greg Baer, head of the Bank Policy Institute, echoed the president's assertion that unchecked supervisors are urging banks to drop risky clients .

The president has signed dozens of executive orders touching a wide range of government functions, but banking policy has largely gone untouched — so far.

Senate Republicans would like to do a large bill on immigration and energy first and then tackle tax reform in a second bill. House Republicans prefer one large bill.

The hedge fund manager and Trump advisor also lent support to the idea of reconsidering deposit insurance limits for some kinds of accounts, such as those used for payrolls.