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

The U.S. Securities and Alternate Fee (SEC) has introduced 97 cryptocurrency enforcement actions to date. Moreover, the securities regulator has imposed roughly $2.35 billion in complete financial penalties towards digital asset market individuals.

97 Crypto Enforcement Actions

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

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

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

Furthermore, the securities watchdog additionally introduced 10 delinquent submitting orders, 20 buying and selling suspension orders, and quite a few subpoenas and follow-on administrative proceedings.

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

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

Beneath the brand new administration, the SEC’s enforcement exercise has continued to give attention to cryptocurrency-related actions.

Gensler has made cryptocurrency one of many SEC’s high priorities. Final week, he burdened that crypto buying and selling platforms should be regulated to make sure investor safety. In December final yr, the chairman added a crypto adviser to his govt workers.

The North American Securities Directors Affiliation (NASAA) and state regulators mentioned earlier this month that “investments associated to cryptocurrencies and digital belongings is our high investor menace .. by far.”

What do you concentrate on the variety of crypto enforcement actions the SEC has taken? Tell us within the feedback part beneath.

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Kevin Helms

A scholar of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source techniques, community results and the intersection between economics and cryptography.

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