Trump

Federal Reserve Gov. Michelle Bowman is widely seen as the president's most likely choice for vice chair for supervision, a position soon to be vacated by Michael Barr. But while Bowman is the administration's most straightforward option, it's not the only one being considered.

Russell Vought, should he be confirmed by the full Senate, would join a short list of those able to lead the CFPB, as his predecessor Mick Mulvaney did, per the requirements of the Vacancies Act.

The Federal Reserve chair said banks are well situated to handle risks related to crypto customers, but added that regulatory scrutiny of banks' direct engagement with the assets will be greater than for simple custody arrangements.

M&A, economic growth and artificial intelligence are among the leading issues banks will encounter this year, economists said.

The National Treasury Employees Union told employees not to respond to the mass email asking federal workers to resign. The chief of staff at the Consumer Financial Protection Bureau said it is reviewing the directive.

The chair of the Senate Banking Committee said the Trump administration will soon address the future of the Consumer Financial Protection Bureau director. "I think we're going to be happy with the answer they give us and the person they give us as well," the Republican from South Carolina said.

Circle and other payment executives say Trump's stated support for digital assets will remove hurdles that have held back support from merchants and consumers.

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.