Congress has opened an investigation into the activities of several fintech firms and their partner banks after learning of widespread fraud related to Paycheck Protection Program loans offered in the wake of the COVID-19 pandemic.

The Treasury Department is cracking down on cryptocurrency transactions and announced it is requiring any transfer of at least $10,000 to be reported. So reports CNBC.

The U.S. Office of the Comptroller of the Currency is going to revisit its crypto-guidance. New chief Michael Hsu said a comprehensive look at interpretive letters, pending regulatory matters and past guidance will be reviewed. So reports Coindesk.

Gary Gensler, chairman of the Securities and Exchange Commission, told members of Congress he is worried that new fintech trading platforms have turned the stock market into a video game.