The GAO warned the FDIC that earlier blockchain oversight recommendations remain only partly implemented, while new stablecoin duties and lessons from the 2023 bank failures keep pressure on U.S. regulators.

Sen. Elizabeth Warren said in a new report that changes made by the Trump administration to the Consumer Financial Protection Bureau, or CFPB, may have left U.S. consumers with as much as $26.5 billion in added costs. According to Warren, roughly $22.5 billion of that total stems from the rollback of limits on credit card late fees and bank overdraft charges, while about $4 billion is tied to the agency dropping some enforcement cases and consumer restitution agreements. The report says a previous CFPB rule on credit card late fees would have capped most charges at $8 and was expected to save consumers about $10 billion a year. A separate proposed rule on overdraft fees would have pushed banks to keep some overdraft charges below $5. Warren argued that staffing cuts, pauses or reductions in enforcement, and the repeal of some consumer protection rules introduced during the Biden administration weakened the CFPB’s role as a consumer watchdog. The CFPB and the White House did not immediately respond to the allegations in Warren’s report, according to CNBC.

Rep. Ayanna Pressley testified that Trump's meme coin lost 40% value after insiders cashed out, while Musk's DOGE team shut down the CFPB, leaving crypto scam victims unprotected.

Bitcoin tumbled under $30,000 on Tuesday, shedding $19 billion in market cap in 24 hours. Stablecoins account for over 70% of total trading volumes, with USDT alone representing $47.7 billion. Google Trends data shows crypto search interest at yearly lows. Regulatory actions against Blockfi and Elizabeth Warren's remarks add to market jitters.

Elon Musk's social platform X has obtained money transmitter licenses in 12 U.S. states, advancing its 'everything app' vision. Separately, X.AI filed with the SEC to raise $1 billion via equity offering, with $135 million already secured from initial investors.

The reported dismantling of the CFPB shortly before X Money’s launch has sparked concerns over regulatory fairness, data access, and competitive advantage, intensifying debate over U.S. digital payment and stablecoin oversight.

The dismantling of the CFPB shortly before X Money’s launch has triggered debate over regulatory fairness, data access, and compliance standards in U.S. digital payments and crypto markets.

A report alleges Elon Musk’s DOGE team helped gut the CFPB shortly before X Money launched, raising concerns over regulatory arbitrage, competitor data access, stablecoin legislation, and fairness in the U.S. digital payments market.