CertiK’s “2026 Digital Asset Regulatory Status” report says major jurisdictions have now locked in core rulebooks, pushing the industry into a “strong compliance era” where enforcement risk is defined more by AML than securities law fights.Anti‑money‑laundering actions have become the primary regulatory kill‑switch, with AML‑related fines exceeding $900 million in the first half of 2025 alone, outpacing headline securities‑classification cases.Smart contract audits are shifting from best‑practice hygiene to a hard condition for licensing and centralized listings, while stablecoin regimes converge on full reserves, licensed issuers, and bank‑style oversight.