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.

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.

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 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.

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.

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.

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.