Over time, US regulatory agencies have taken legal action against various crypto companies, requiring them to follow rules for their products and services. Notable cases include lawsuits against decentralized protocols like Uniswap, crypto mixing platforms such as Tornado Cash, and major firms like Binance and Coinbase. Last year, the US government intensified its crackdown on crypto entities, filing multiple lawsuits against key industry players.

The US government cracked down on crypto companies by suing major exchanges like Binance and Coinbase for failing to register as brokers and violating securities laws. The Department of Justice also charged the co-founders of Tornado Cash for allegedly laundering over $1 billion in criminal proceeds. In response, the Office of Foreign Assets Control sanctioned the crypto mixer for its connection to cybercrime groups.

High-profile cases continued with the SEC suing Kraken for similar charges as Binance and Coinbase. Around the same time, the DOJ charged Binance and its founder with violating the Bank Secrecy Act, resulting in a hefty fine for the exchange and a penalty for its CEO. The war against decentralized finance (DeFi) escalated with charges against KuCoin and its founders for violating banking laws and operating an unlicensed money-transmitting business. Meanwhile, Uniswap Labs faced a potential lawsuit from the SEC, and Consensys received a warning of enforcement action for violations through its MetaMask wallet.

Privacy-focused wallets also faced scrutiny, with the DOJ arresting the founders of Samourai for allegedly enabling money laundering. The wallet was shut down, and the founders were charged with facilitating illicit funds. Roger Ver, an early BTC investor, was also arrested for allegedly evading taxes.

The US government's actions against crypto companies have implications for investor confidence, market stability, and the future of decentralized finance. Major industry players face legal challenges that could shape the direction of the crypto industry.