The Federal Reserve Board on Thursday announced the withdrawal of guidance for banks related to their crypto-asset and dollar token activities and related changes to its expectations for these activities.

OKX operator Aux Cayes Fintech has pleaded guilty to running an unlicensed money transmitting business and will pay over $504 million in fines and fees.

JP Morgan Chase CEO Jamie Dimon, in a meeting with Republican lawmakers and top bank CEOs, called for a review of financial regulations. He warned that strict rules, particularly anti-money laundering laws, are forcing banks to cut off customers to avoid penalties.

In a sharp pivot from the previous administration’s approach, Deputy Attorney General Todd Blanche has announced the immediate disbandment of the Justice Department’s digital assets enforcement team.

The U.S. financial landscape for decentralized finance (DeFi) appears to be shifting, as the Securities and Exchange Commission (SEC) has terminated its investigation into Uniswap Labs, a prominent decentralized crypto exchange. The probe, which spanned over a year, accused Uniswap of functioning as an unregistered broker exchange and clearing agency while issuing unregistered securities.

London-based Wise misled U.S. customers with inaccurate fee advertisements and failed to properly disclose exchange rates, according to the Consumer Financial Protection Bureau (CFPB).

Banks worldwide faced a total of $4.5 billion in fines in 2024, with TD Bank accounting for two-thirds of the total after pleading guilty to violating U.S. anti-money laundering (AML) laws.

The UK Government is reportedly considering dissolving the Payment Systems Regulator (PSR) and integrating it into the Financial Conduct Authority (FCA) as part of its broader economic growth agenda. The PSR, while fully independent, already shares some operational services with the FCA.

President Donald Trump has issued an executive order establishing a working group on digital assets to craft a federal regulatory framework for cryptocurrencies and explore the creation of a national digital asset stockpile.

The U.S. Senate has voted to overturn a Consumer Financial Protection Bureau (CFPB) rule that would have extended regulatory oversight to major tech companies offering digital payment apps and wallets, including Apple, Google, and X.

The U.S. Securities and Exchange Commission (SEC) has established the Cyber and Emerging Technologies Unit (CETU) to address cyber-related misconduct and protect retail investors from technology-driven fraud.

In a major enforcement action, 48 state financial regulators have fined Block $80 million for violations of the Bank Secrecy Act (BSA) and anti-money laundering (AML) regulations. Block, the parent company of Cash App, agreed to pay the penalty, hire an independent consultant to evaluate its BSA/AML program, and address any deficiencies identified within 12 months. The investigation revealed compliance lapses that could enable illegal activities, including money laundering and terrorism financing.