• In a year that saw heavyweight Binance hit with a $4 billion settlement and high-profile lawsuits against crypto companies, regulators overseas have been busy pushing formal laws.
  • The U.S. has proven one of the most active enforcers of legal action against crypto companies this year, with the Securities and Exchange Commission suing both Coinbase and Binance.
  • The European Union approved its Markets in Crypto-Assets regulation, a world-first package of comprehensive laws for the crypto industry.
A flag outside the U.S. Securities and Exchange Commission headquarters in Washington, Feb. 23, 2022.

Regulators around the world from Europe to Asia ramped up efforts to bring about formal laws for digital currencies in 2023 — but it was the U.S. that took some of the harshest legal actions against major players in the industry.

In a year that saw crypto heavyweight Binance ordered to pay more than $4 billion to U.S. authorities and its former CEO's guilty plea, along with high-profile lawsuits against five crypto companies by the Securities and Exchange Commission, regulators overseas have been equally busy both adopting new legislation — and pushing for more — to rein in the sector's bad actors.