Recent enforcement activity across U.S. and international authorities reflects a continued focus on fraud and unregistered activity in the crypto sector. In April 2026, the Department of Justice (DOJ) initiated a compensation process for victims of the OneCoin scheme, which defrauded investors of more than $4 billion, and announced coordinated actions through its Scam Center Strike Force targeting Southeast Asian fraud operations. These actions included criminal charges, seizures of fraudulent infrastructure and efforts to restrain more than $700 million in cryptocurrency tied to money laundering. U.S. enforcement activity also included the 23-year prison sentence of a Texas individual for a $20 million crypto fraud and an eight-year sentence for a French national who operated an unlicensed crypto-based money laundering network involving hundreds of millions of dollars. The Securities and Exchange Commission (SEC) brought new charges alleging a $16 million fraudulent securities offering tied to “Bitcoin Latinum” tokens, while the New York Attorney General sued Coinbase and Gemini over alleged illegal prediction market activity. Additional developments included Tether’s cooperation with U.S. authorities to freeze $344 million in USDT linked to unlawful conduct, a U.K. Financial Conduct Authority crackdown on unregistered peer-to-peer crypto traders and a federal court decision denying Sam Bankman-Fried’s motion for a new trial.

On May 14, the Senate Banking Committee favorably reported its portion of digital asset market structure legislation to the full Senate by a 15–9 vote. Democratic Senators Ruben Gallego (D-AZ) and Angela Alsobrooks (D-MD) supported the bill alongside all Republicans on the panel, though neither Democrat committed to supporting the legislation on the Senate floor if negotiations stall over a contentious ethics provision restricting certain crypto-related activities by government officials. Democrats have expressed significant concern regarding the Trump family’s crypto business.

The committee vote followed an agreement between Senator Thom Tillis and Senator Angela Alsobrooks on stablecoin yield payments. The compromise restricts yield-like rewards for holding stablecoins while allowing similar rewards when users spend or use them. Crypto firms have largely supported the compromise, while banks continue to argue that such rewards pose risks to deposits and, by extension, their ability to lend. Before the bill reaches the Senate floor, it must be combined with text from the Senate Agriculture Committee. Although that committee reported its portion in January 2026, it did so along party lines and negotiations are ongoing to finalize the legislation. Both committees must resolve outstanding issues before a full Senate vote can proceed.