SEC Has Taken 97 Crypto Enforcement Actions So Far — Crypto a Top Priority for Chairman Gensler

The U.S. Securities and Exchange Commission (SEC) has introduced 97 cryptocurrency enforcement actions thus far. Furthermore, the securities regulator has imposed roughly $2.35 billion in complete financial penalties in opposition to digital asset market contributors.

97 Crypto Enforcement Actions

Cornerstone Research printed a report titled “SEC Cryptocurrency Enforcement: 2021 Update” final week. The report analyzes SEC enforcement actions from July 2013 to December 2021, the corporate detailed, elaborating:

Since the primary motion in July 2013, the SEC has introduced a complete of 97 enforcement actions as of December 31, 2021.

According to the report, 58 enforcement actions had been cryptocurrency-related litigations and 39 had been administrative proceedings. In addition, about half of the 58 litigations occurred within the state of New York. As of Jan. 3, 31 litigations had reached a decision.

Moreover, the securities watchdog additionally introduced 10 delinquent submitting orders, 20 buying and selling suspension orders, and various subpoenas and follow-on administrative proceedings.

The report additionally particulars: “As of year-end 2021, the SEC had imposed roughly $2.35 billion in complete financial penalties in opposition to digital asset market contributors.”

The new SEC chairman, Gary Gensler, was sworn in on April 17, 2021. The report notes:

Under the brand new administration, the SEC’s enforcement exercise has continued to deal with cryptocurrency-related actions.

Gensler has made cryptocurrency one of many SEC’s prime priorities. Last week, he harassed that crypto buying and selling platforms must be regulated to make sure investor safety. In December final yr, the chairman added a crypto adviser to his government employees.

The North American Securities Administrators Association (NASAA) and state regulators said earlier this month that “investments associated to cryptocurrencies and digital belongings is our prime investor menace .. by far.”

What do you consider the variety of crypto enforcement actions the SEC has taken? Let us know within the feedback part beneath.