German multinational financial services company Deutsche Bank AG will be granted a three-year exemption to continue managing U.S. retirement assets, despite its involvement in an eight-year wire fraud scheme.

The prices of Tether and USD Coin have been reasonably stable to date. But without assured backing, stablecoins are vulnerable to panicky runs by holders who try to pull their funds out before others can, says Gary Gorton, an economist who is a finance professor at Yale School of Management.

China’s financial regulator said operations at China Huarong Asset Management Co. are normal and the company has ample liquidity, marking the first official comments aimed at easing investor concerns over the financial health of the nation’s largest bad-debt manager.

The Turkish central bank banned the use of cryptocurrencies as a form of payment from April 30, saying the level of anonymity behind the digital tokens brings the risk of “non-recoverable” losses.

Global banking regulators will discuss the collapse of Archegos Capital Management LP, whose failure threatens to cost its lenders some $10 billion and is prompting calls for more oversight of the industry.

A senior Bank of Japan official played down the potential for China’s digital yuan to threaten the dollar’s position as the world’s main reserve currency.