A cohort of federal regulatory agencies in the U.S. is seeking input regarding the future of artificial intelligence in financial institutions, according to the entities. The groups are asking the public to weigh in on a number of considerations, including customer service, fraud prevention, credit underwriting and other financial operations.

The cryptocurrency market hit a $1.7 trillion market cap as the Senate Banking Committee gave its endorsement of Gary Gensler, President Joe Biden’s nominee to head the Securities and Exchange Commission. So reports Finance Magnates.

Gary Gensler, President Joe Biden’s prospective pick to lead the U.S. Securities and Exchange Commission, said he is open to the idea of digital currencies, but warns investors must be “adequately protected.” So reports Fox Business.

In an effort to combat monopolies and bolster risk control, China is planning “special and innovative regulatory measures” on fintech giants like Ant Group Co. So reports Bloomberg.