Regulators remain skeptical toward digital assets in the wake of major crypto-industry partner-bank failures, but in the absence of legislative direction, oversight of crypto is largely left to the Securities and Exchange Commission. The SEC's approach has been aggressive, but its authority has been muddied by recent court decisions.

While talks between House Financial Services Committee Chairman Patrick McHenry, R-N.C., and ranking member Rep. Maxine Waters, D-Calif., fell apart on stablecoin legislation, crypto anti-money-laundering bills quietly moved forward in the Senate.

JPMorgan Chase, Barclays, Citigroup and others will face a class-action suit over allegations of foreign exchange manipulation. 

The Government Accountability Office called for Congress to pass blockchain regulation legislation to shore up the federal regulatory apparatus.

Spring Development Bank aims to use blockchain technology to support funding for the expelled leaders and provide financial services to the civil war-torn population.

The Crypto-Asset National Security Enhancement and Enforcement Act would increase regulatory oversight of cryptocurrencies traded on public blockchains and guard against money laundering and sanctions evasion, particularly by holding the largest crypto investors accountable for compliance.

The SEC chairman's power grab is driving the crypto industry out of the U.S. Eventually, the courts will find that he has exceeded his authority.