U.S. Senate Banking Committee Ranking Member Pat Toomey (R-Pa.) distributed a draft of a bill to establish a new regulatory framework for "payment stablecoins."

Republican members of the U.S. Senate Banking Committee released a discussion draft of proposed legislation "to help accelerate economic growth and spur new business formation."

Self-regulatory organizations, including NYSE Arca, NYSE Chicago and NYSE National, extended a pilot program on market-wide circuit breakers.

In a new report, the Congressional Research Service summarized two companion bills (one in the House and one in the Senate) that would prohibit financial intermediaries and issuers from mandating the use of arbitration to resolve disputes.

At a hearing before the Senate Committee on Banking, Housing, and Urban Affairs, witnesses raised the pros and cons of the proposed Insider Trading Prohibition Act.