Yes, seafood fraud should be termed as illegal fishing. Fisherman are permitted to catch a limited number of each allowable species. Being dishonest about what is being caught and sold can have detrimental effects on fish populations. If fisherman are fraudulently reporting their catches then there is a possibility that they are also illegally fishing.
Fish, a healthy food and one that millions of people around the world enjoy. Fishing laws are designed to protect the fish, allowing fish to live and breed in the wild, to ensure a sustainable population. Illegal fishing affects this balance and should be stopped - there must be balance however, and small fisherman should be granted licenses as appropriate.
Yes, illegal fishing, seafood fraud and the like should be targeted in new federal rules, because illegal fishing is dangerous for the environment. It is also helpful to make the laws federal, because often times these crimes occur out at sea and it is hard to know what state has jurisdiction to prosecute.
Although it sounds good on paper, requiring strict sourcing from international companies only serves to once again squeeze the little guy out of the market. If you don't have enough time and capital to comply with the new requirements, you might as well just pack it in and try selling your fish in China.