Kevin Hassett, once seen as a leading candidate to succeed Jerome Powell as Federal Reserve chair, has faced recent scrutiny from senior figures close to former President Donald Trump, CNBC reports citing people familiar with the matter. The tension stems from Hassett's close ties to Trump, which initially favored him but now raise concerns, potentially explaining why candidate interviews were canceled and rescheduled in early December, with former Fed governor Kevin Warsh completing his interview last week. Trump told reporters he had decided on a Fed chair pick, but said in a Friday interview with The Wall Street Journal that both Hassett and Warsh are the final contenders, surprising markets and sending Kalshi prediction market odds for Hassett lower to 51% on Monday from over 80% earlier this month, while Warsh's odds rose from about 11% in early December to 44%.

The UK Treasury is drafting rules that would bring crypto assets under the oversight of the Financial Conduct Authority (FCA) by 2027, treating them more like traditional financial products, according to The Guardian, as reported by Cointelegraph. The initiative follows UK measures introduced in 2023 that focused on regulating stablecoins and strengthening consumer protection in the crypto sector, and is intended to further align crypto regulation with existing financial standards.