Congress has reached a stalemate regarding a planned overhaul of stablecoin regulations and will continue to grapple with the matter as it heads into its mid-summer recess.

The Bank of England is calling for tougher cryptocurrency regulations in the wake of heavy losses—more than $2 trillion in the space—in its newest financial stability report. So reports the Associated Press.

FTX U.S. President Brett Harrison said he is pushing for greater governmental regulation of the crypto industry as prices for major tokens continue to flounder. So reports Newsweek.

The hotly-anticipated cryptocurrency bill from U.S. Sens. Kirsten Gillibrand and Cynthia Lummis was finally introduced last week, and on its face it appears exactly as advertised: a massive, sweeping conglomeration that covers everything from banking to security and a slew of other regulations.