The US Department of Justice, at the direction of President Donald Trump, has opened a criminal investigation into Federal Reserve Chairman Jerome Powell.
The DOJ alleges that the chair has misallocated funds in the course of renovations of Federal Reserve office buildings, a claim that Powell has denied.
The Fed chair said that the charges were politically motivated and “a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President.”
Trump had previously toured the office buildings that were under renovation, alleging that the Fed, at Powell’s direction, was supposedly over budget.
Trump has long sought to exert more control over the Federal Reserve and has expressed frustration over what he sees as insufficiently low interest rates.
Coinbase pauses fiat services for Argentinians
Major US crypto exchange Coinbase has halted fiat operations in Argentina just one year after entering the country’s market.
The exchange reportedly halted Argentine peso-based services following a review of its operations. It said that the “deliberate pause” will give it time to assess the sustainability of its product offerings in the region.
Argentine users won’t be able to buy or sell USDC (USDC) with pesos or withdraw funds to local bank accounts by the end of January.
Ana Gabriela Ojeda, a LATAM crypto industry observer, said such pauses generally come when working in the local currency is too complex. “It is not a signal against crypto or against stablecoins but rather a demonstration of the structural challenges of integrating local financial systems in volatile markets.”
NFT Paris cancelled after market crash
Organizers of NFT Paris, an event focused on non-fungible tokens (NFTs) and real-world assets, have cancelled the conference, citing market conditions.
NFT Paris was initially scheduled for February, but organizers stated that “the market collapse hit us hard. Despite drastic cost cuts and months of trying to make it work, we couldn’t pull it off this year.”
After hitting a massive high in 2022, NFTs have struggled to make a meaningful comeback. According to data from CoinGecko, total NFT market capitalization is barely above $3 billion as of publishing time, with a 24-hour trading volume of just $4 million.
NFT Paris attendees will have their tickets refunded. They did not comment on whether the event would be rescheduled or whether they would host future events.
Source: NFT ParisUS state of Wyoming launches its own stablecoin
Wyoming’s Frontier Stable Token (FRNT) is now available to the general public. State legislators framed the asset as a step forward for financial innovation in the state, which has boasted lax regulations for the digital asset industry.
Source: Mark GordonThe token, which is now live on the Solana blockchain, can be bought on Kraken and bridged to Arbitrum, Avalanche, Base, Ethereum, Optimism and Polygon.
Other states in the US have shown interest in launching stablecoins. In October 2025, the Bank of North Dakota announced plans to launch a “Roughrider” coin.
Proponents of state stablecoins have cited their stability — backing is usually secured by dollar reserves and US Treasurys — and lower fees for transfers compared with traditional credit cards.
Financial “influencers” get warning from Italian regulators
The Commissione Nazionale per le Società e la Borsa (CONSOB), Italy’s top securities regulator, has warned influencers of their responsibilities in promoting financial products.
Citing guidance from EU law, CONSOB warned “fin-fluencers” that “promoting a financial product or service isn’t like promoting shoes or watches.”
Promoting volatile assets like cryptocurrencies, wherein investors can lose all of their capital, can leave influencers legally responsible for what they post, said CONSOB.
According to guidance from the European Securities and Markets Authority (ESMA), even disclaimers like “this is not financial advice” don’t excuse influencers from legal obligations.
ESMA’s note for influencers. Source: ESMAMoldova to align crypto rules with EU’s MiCA
On Jan. 16, Moldovan Finance Minister Andrian Gavrilita announced that his country would align its laws for crypto with the European Union’s Markets in Crypto-Assets Regulation (MiCA) framework.
In an interview with local media, he said that his ministry is engaging with EU regulators to develop a legal framework that would allow citizens to hold and trade crypto. The new laws will reportedly be a joint effort between the Finance Ministry and the National Bank of Moldova, as well as the Anti-Money Laundering and securities authorities.
Crucially, the new law would not recognize crypto as a means of payment. Moldova’s central bank has warned about the risks associated with crypto on multiple occasions, and Gavrilita himself has called crypto a speculative instrument.
Magazine: Here’s why crypto is moving to Dubai and Abu Dhabi
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