In a full committee hearing, the Senate Banking Committee assessed various approaches to cryptocurrency regulation, addressing stablecoin/DeFi regulation, investor protections, and collaboration between the SEC and CFTC.

The SEC proposed to significantly amend and redesignate the Advisers Act "Custody Rule," expanding its requirements. The proposal also amends related recordkeeping and reporting obligations.

FRB Governor Michelle W. Bowman said that increasing delays in the review and processing of bank merger applications may result in increased operational risk, employee retention issues, reputational risk, and the additional costs associated with running two institutions in parallel over an extended period of time.

House Republicans criticized the FTC rulemaking proposal to ban noncompete clauses, asserting that the proposal "exceeds its delegated authority and imposes a top-down, one-size-fits-all approach that violates basic American principles of federalism and free markets."

The SEC adopted a final rule to shorten the standard settlement cycle for most broker-dealer transactions from two business days after the trade date ("T+2") to one business day after the trade date ("T+1").