The SEC also alleges the firm's founder invested clients' money through a fund that employed his wife without disclosing the conflict.

Federal Reserve officials have asserted that stablecoin regulation is necessary and within their jurisdiction. Observers say the central bank's crypto guidance and policies governing master accounts offer blurry visions of what shape such regulation might take.

The cofounder and main promoter of the $4 billion OneCoin pyramid scheme was sentenced to 20 years in prison for his role in one of the first and biggest criminal frauds involving cryptocurrency.

The move disappointed advocates just days after a court ruling viewed by many as clearing a path for the long-awaited product.

The potential rules for sales or exchanges of cryptocurrency could reduce tax evasion and provide easily understandable documentation, experts said.

Popular online brokerage has paid $175 million to resolve recent actions by federal and state regulators.

British banking app Revolut Ltd. will stop offering crypto trading services to US-based customers from September, citing market uncertainty and changes to the local regulatory landscape.

The U.S. senator and a banking group want rules to make it tougher for crypto to be used to launder money and finance terrorism.

Cryptocurrency fraud losses nearly doubled last year in this country, a marked contrast with the rest of the world, where they actually fell by around half.