U.S. Treasury Secretary Janet Yellen calls for federal oversight of stablecoin issuers to establish uniform compliance standards.

Yellen supports a stablecoin bill that is currently pending a vote on the House floor, which has some Democratic backing.

The U.S. Securities and Exchange Commission's proposal on restricting investment firms' custody of clients' crypto assets has elicited criticism and concerns, particularly regarding its impact on banks.

The Financial Stability Oversight Council has cautioned that without congressional action on digital asset regulation, it may recommend Federal Reserve oversight for parts of the crypto industry.

Regulatory scrutiny of cryptocurrencies is increasing, with a focus on the need for clearer guidelines to mitigate associated risks.

Bitcoin's value was reported at $43,025 amidst these regulatory discussions.