Welcome to the April 2026 edition of The Monthly Crypto Map — your monthly wrap of the developments reshaping the global crypto landscape.

April 2026 was a more active month for crypto, with regulators in the US pointing to a more coordinated approach even as key legislation such as the CLARITY Act remained delayed amid industry disagreements.

China stood out, carving out a controlled legal pathway for tokenised financial assets while continuing to ban cryptocurrency trading, drawing a sharper line between blockchain infrastructure and speculative crypto activity. Europe and the UK moved ahead with tighter oversight and consultations, while Japan moved to classify crypto as financial products and Hong Kong advanced its stablecoin regime. At the same time, institutional and corporate adoption deepened, with companies such as Meta rolling out stablecoin payouts and Visa expanding its blockchain-based settlement network.

However, the month also highlighted persistent risks, with crypto hacks crossing $600 million and vulnerabilities in DeFi infrastructure raising broader concerns around market stability.

In India, there were no major policy shifts, with the existing tax and compliance-heavy framework continuing even as fraud cases highlighted ongoing risks for retail participants.

Read on:

US

U.S. regulators signalled a coordinated reset in crypto oversight at the Bitcoin 2026 Conference, where SEC Chair Paul Atkins and CFTC Chair Mike Selig outlined a more industry-friendly approach. The officials said agencies would work more closely to clarify the boundary between securities and commodities and keep crypto activity onshore, amid calls for legislative backing.

US Senator Thom Tillis has urged delaying Senate consideration of the CLARITY Act, a key crypto market structure bill, to May to allow more time to resolve differences between banks and the crypto industry. Disputes centre on provisions such as stablecoin yield, with banks warning of deposit risks while crypto firms push for flexibility, raising uncertainty around the bill’s timeline.

US Treasury Secretary Scott Bessent has urged Congress to pass the CLARITY Act, warning that regulatory uncertainty is driving crypto investment and innovation overseas to jurisdictions with clearer rules. The proposed legislation aims to establish a federal framework for digital assets, but has been delayed by disputes between banks and the crypto industry, particularly over stablecoin-related provisions.

The US Securities and Exchange Commission has issued guidance creating a five-year safe harbour for certain decentralised finance (DeFi) interfaces, allowing them to operate without broker-dealer registration under specific conditions. The relief applies to non-custodial front-ends such as wallet apps and browser extensions that help users execute transactions, provided they do not hold assets, route orders or offer investment advice.

The US Securities and Exchange Commission has charged Donald Basile over an alleged $16 million crypto fraud tied to the “Bitcoin Latinum” token, accusing him of misleading investors with false claims of insurance backing. The SEC said funds were diverted to personal expenses and is seeking penalties, repayment and a ban on Basile from securities markets.

US banking groups are urging regulators to slow implementation of stablecoin oversight under the GENIUS Act, seeking more time for public comment and coordination across agencies. Banks warned that rushed rules could disrupt financial stability and increase compliance burdens, as regulators draft frameworks for issuance and supervision of dollar-backed tokens.

The US Internal Revenue Service will implement mandatory cost basis reporting for digital asset brokers from April 2026, requiring exchanges and custodial platforms to disclose transaction details to both taxpayers and the agency. The rules mandate filing of Form 1099-DA covering sales and exchanges, aligning crypto tax reporting with traditional securities and aiming to curb underreporting of capital gains.

The US Department of Justice has opposed Roman Storm’s attempt to dismiss criminal charges tied to the Tornado Cash mixer, arguing a cited Supreme Court ruling does not apply. A court hearing is scheduled, with prosecutors leaving open the possibility of a retrial on key charges later in 2026. The case is being closely watched as a test of whether crypto developers can be held liable for how users deploy their code.

India

A 74-year-old retired professor from the University of Hyderabad lost Rs 3.2 crore in a cryptocurrency scam after being lured via social media into investing on a fake platform. The victim transferred funds to dozens of bank accounts over several months before raising a complaint in April, prompting an investigation by the Telangana Cyber Security Bureau.

Japan-based crypto tax platform Cryptact has launched INR-denominated paid plans for Indian users from April 2026, marking a deeper push into the market ahead of the tax filing season. The platform, which had offered free services since entering India in 2025, will now charge for tax report downloads while continuing basic portfolio tracking for free.

Asia

China has introduced an updated regulatory framework that formally separates real-world asset (RWA) tokenisation from broader cryptocurrency activities, establishing a legal pathway for tokenised financial assets under strict oversight. The rules reaffirm that cryptocurrency trading and related services remain illegal, while expanding restrictions to offshore providers serving Chinese users.

Chinese regulators have urged banks to integrate blockchain into lending and tax data systems to improve transparency, reduce fraud and expand credit access for small businesses. The initiative focuses on strengthening data sharing between financial institutions and tax authorities, streamlining credit approvals and improving risk assessment through verified records.

Circle CEO Jeremy Allaire said there is a “tremendous opportunity” for a yuan-backed stablecoin, as digital currencies become increasingly embedded in global trade and finance. He said China could introduce a yuan-pegged stablecoin within three to five years, potentially using it to expand the international role of its currency despite its ban on crypto trading.

Japan’s cabinet has approved a bill to classify cryptocurrencies as financial products under securities law, marking a major regulatory shift. The move brings crypto under the Financial Instruments and Exchange Act, introducing insider trading bans, stricter penalties and mandatory disclosures for issuers.

Hong Kong has issued its first licences for fiat-backed stablecoins to HSBC and a joint venture led by Standard Chartered, marking a major step in its regulated digital asset push.

UK/Europe

Britain’s Financial Conduct Authority has raided eight London locations suspected of illegal peer-to-peer crypto trading in a joint operation with police and tax authorities. The regulator issued cease-and-desist notices and said evidence gathered is supporting ongoing criminal investigations into potential money laundering and financial crime.

The Financial Conduct Authority has launched a consultation on guidance for its upcoming crypto regulatory framework, seeking industry feedback on how key activities will be supervised. The proposals clarify rules around areas such as stablecoin issuance, trading platforms, custody and staking, as the UK prepares to bring crypto fully under regulation from October 2027.

British politician Nigel Farage received an undisclosed £5 million ($6.7 million) personal gift from crypto investor Christopher Harborne shortly before reversing his decision to run in the 2024 general election, according to a Guardian report. The donation, said to be for personal security, was not publicly declared at the time, raising questions over transparency and compliance with parliamentary rules.

The European Commission has adopted its 20th package of sanctions against Russia, expanding restrictions to financial services including crypto-related activities. The measures aim to curb sanctions evasion by tightening controls on digital asset transactions alongside trade and media restrictions, as part of broader efforts to pressure Moscow.

The European Central Bank has backed a European Commission proposal to shift oversight of crypto-asset service providers from national regulators to the European Securities and Markets Authority, aiming to reduce fragmentation and strengthen supervision. The move would bring major cross-border crypto firms under a single EU watchdog, addressing risks as banks deepen ties with digital asset companies.

European Union officials have indicated that the bloc’s landmark Markets in Crypto-Assets (MiCA) framework will likely be updated with a second version as digital asset markets evolve. A European Commission adviser said regulators plan a public consultation to assess whether current rules remain fit for purpose, noting crypto market structures have changed significantly since MiCA was drafted.

Other Countries

Australia has passed its first comprehensive crypto law, requiring exchanges and custody providers to obtain an Australian Financial Services Licence under a new digital assets framework. The legislation brings crypto intermediaries under existing financial services rules, introducing safeguards, disclosures and consumer protections.

The United Arab Emirates’ Capital Market Authority has introduced a new framework to regulate virtual asset activities, expanding oversight as the sector grows rapidly. The rules define five core modules covering conduct, trading systems, AML and prudential requirements, while expanding regulated activities from three to eight, including custody, trading and advisory services.

Binance has offered temporary relocation options to employees based in the United Arab Emirates as escalating tensions in the Middle East disrupt the region. Binance offers UAE staff temporary relocation amid regional tensions. Binance has offered temporary relocation options to employees based in the United Arab Emirates as escalating tensions in the Middle East disrupt the region.

Changpeng Zhao said the UAE has the potential to become a global centre for money, citing its supportive regulatory environment and openness to innovation in digital assets. The former Binance chief pointed to clear rules and pro-business policies among others.

Global markets

Bitcoin posted its strongest monthly performance in about a year in April, but analysts warned the rally may be fragile as underlying demand remains weak. Trading volumes fell below $8 billion, the lowest since October 2023, while retail participation and ETF activity stayed muted, signalling limited spot buying.

Corporate developments

Meta has begun offering stablecoin payouts to select creators, allowing them to receive earnings in USD Coin (USDC) via crypto wallets on the Solana and Polygon blockchains. The rollout, currently limited to markets including Colombia and the Philippines, uses third-party wallets and integrates with Stripe for crypto-related tax reporting.

Visa said it is expanding its stablecoin settlement pilot by adding five new blockchain networks, as it deepens integration of crypto into its payments infrastructure. The company said its stablecoin settlement volume has grown 50% quarter-on-quarter, reaching a $7 billion annualised run rate.

World Liberty Financial (WLFI), a crypto venture backed by Donald Trump and his family, has threatened legal action against its largest token holder amid a widening dispute over token controls and governance. The conflict comes as WLFI’s market value has dropped by about $700 million in recent days, following investor concerns and allegations linked to a broader token scandal.

The Linux Foundation has launched the x402 Foundation to oversee an open payments protocol contributed by Coinbase, aimed at embedding transactions directly into web interactions. The x402 protocol enables AI agents, APIs and applications to exchange value as seamlessly as data, with backing from major firms including Stripe, Google and Visa.

Alcoa is in advanced talks to sell a dormant smelter site in upstate New York to bitcoin mining firm NYDIG, as it looks to offload legacy assets. The Massena East facility, spanning about 1,300 acres and powered by hydropower, has been idle since 2014 and is expected to be repurposed for crypto mining or data infrastructure.

JPMorgan Chase is stepping up its focus on blockchain and tokenisation, with CEO Jamie Dimon backing broader use of digital asset technology across financial markets. The bank is exploring tokenised financial products that could enable faster settlement, improved liquidity and round-the-clock trading, as traditional finance integrates blockchain infrastructure.

Charles Schwab said it will roll out “Schwab Crypto,” a spot trading service giving retail clients direct access to bitcoin and ethereum in the coming weeks. The platform will integrate crypto trading alongside traditional investments, offering research, education, 24/7 support and pricing of about 75 basis points per trade.

Strategy is nearing BlackRock’s position as the largest institutional holder of bitcoin after recent purchases, with the gap narrowing to about 9,000 BTC, according to a report. The company has steadily expanded its holdings through aggressive buying, reinforcing its position as the biggest corporate bitcoin owner.

Publicly traded Strive has purchased about $60 million worth of bitcoin, adding roughly 789 tokens to its holdings as it deepens its corporate treasury strategy. The company said a subsidiary will host a business summit aimed at promoting bitcoin adoption among corporate leaders.

Tether has proposed merging bitcoin treasury firm Twenty One Capital with payments platform Strike and mining firm Elektron Energy. The plan comes as Twenty One Capital’s bitcoin investment model has lost favour, with the combined entity aimed at integrating treasury management, payments and mining.

Grayscale Investments has amended its filing for a proposed Hyperliquid (HYPE) ETF, naming Anchorage Digital as custodian in place of Coinbase. The move reflects concerns over concentration risk, regulatory alignment and potential conflicts of interest, as Coinbase dominates crypto ETF custody and competes in related markets.

MoonPay has acquired crypto key-management firm Sodot and launched “MoonPay Institutional,” a new unit targeting financial institutions entering digital asset markets.The acquisition provides infrastructure for custody, payments and trading services across banking and wealth management use cases.

Bitmine Immersion Technologies has amassed an ethereum treasury worth about $13.3 billion, aiming to control roughly 5% of the token’s total supply. The company holds over 5 million ETH, around 4.2-4.3% of global supply, making it one of the largest corporate holders of the cryptocurrency.

Flow Capital Partners plans to offer its $150 million private credit fund on a Singapore-based blockchain platform by the end of April, in a push to tap tokenised distribution channels. The Hong Kong-based firm will use DigiFT to issue tokenised shares and aims to raise an additional $30 million as it expands the fund.

French exchange Lise has completed what it said is the world’s first fully regulated initial public offering conducted entirely on a blockchain-based market infrastructure. The IPO saw shares issued, traded and settled natively on-chain, marking a shift from traditional listing processes toward tokenised capital markets.

Tether has launched an open-source Mining Development Kit (MDK), a full-stack framework designed to help bitcoin miners manage infrastructure through a unified system. The platform combines a JavaScript backend and React-based tools, allowing operators of all sizes to monitor, automate and optimise mining operations while reducing reliance on proprietary systems.

Japanese crypto exchange Bitbank has launched a Visa credit card in partnership with Epos Card, offering users 0.5% cashback in digital assets including bitcoin, ether and Astar.

JPG Store, the leading NFT marketplace on the Cardano blockchain, will permanently shut down on May 23, 2026, after entering a restricted mode in April. The platform halted new listings, bids and minting from April 23, allowing only withdrawals and management of existing assets ahead of closure.

Security & Fraud

April 2026 was the worst month for crypto-related hacks in over a year, with losses exceeding $600 million across multiple incidents, driven by major exploits including Kelp DAO and Drift Protocol. The two attacks alone accounted for the bulk of losses, highlighting concentration risk in DeFi systems and vulnerabilities in cross-chain infrastructure.

Hackers exploited a cross-chain bridge to steal nearly $300 million from a key decentralised finance protocol, triggering ripple effects across multiple platforms. The breach exposed vulnerabilities in interconnected DeFi systems, where compromised assets are widely used as collateral, amplifying systemic risk.

Decentralised exchange CoW Swap suffered a loss of about $1.2 million after attackers hijacked its domain, redirecting users to a malicious interface that drained funds from connected wallets. The exploit targeted front-end infrastructure rather than smart contracts, allowing hackers to trick users into signing fraudulent transactions.

Litecoin developers rolled back part of the blockchain after a zero-day bug allowed attackers to process invalid transactions, effectively rewriting recent transaction history. The incident triggered a 13-block reorganisation, wiping out fraudulent transfers and restoring the network after the vulnerability was patched.