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 brought 97 cryptocurrency enforcement actions so far. Furthermore, the securities regulator has imposed approximately $2.35 billion in total monetary penalties against digital asset market participants. 97 Crypto Enforcement Actions
Cornerstone Research published a report titled “SEC Cryptocurrency Enforcement: 2021 Update” last week. The report analyzes SEC enforcement activities from July 2013 to December 2021, the company detailed, elaborating: Since the first action in July 2013, the SEC has brought a total of 97 enforcement actions as of December 31, 2021.
According to the report, 58 enforcement actions were cryptocurrency-related litigations and 39 were administrative proceedings. In addition, about half of the 58 litigations occurred in the state of New York. As of Jan. 3, 31 litigations had reached a resolution.
Moreover, the securities watchdog also brought 10 delinquent filing orders, 20 trading suspension orders, and a number of subpoenas and follow-on administrative proceedings.
The report also details: “As of year-end 2021, the SEC had imposed approximately $2.35 billion in total monetary penalties against digital asset market participants.”
The new SEC chairman, Gary Gensler, was sworn in on April 17, 2021. The report notes: Under the new administration, the SEC’s enforcement activity has continued to focus on cryptocurrency-related actions.
Gensler has made cryptocurrency one of the SEC’s top priorities. Last week, he stressed that crypto trading platforms must be regulated to ensure investor protection. In December last year, the chairman added a crypto adviser to his executive staff.
The North American Securities Administrators Association (NASAA) and state regulators said earlier this month that “investments related to cryptocurrencies and digital assets is our top investor threat .. by far.” Tags in this story crypto asset regulation, crypto enforcement actions, Crypto regulation, crypto top priority, Cryptocurrency regulation, enforcement actions, Gary Gensler, SEC, SEC enforcement actions
What do you think about the number of crypto enforcement actions the SEC has taken? Let us know in the comments section below. Kevin Helms
A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. No Developed Nation Bans Cryptocurrencies, Telegram Founder Pavel Durov Warns Russia REGULATION | 16 hours ago Biden Administration Preparing to Release Government-Wide Crypto Strategy: Report REGULATION | 23 hours ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleFantom Surpasses Binance Smart Chain as the Third-Largest Defi Blockchain Next articleBitcoin, Ethereum Technical Analysis: BTC Falls to 5-Month Low Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItUFC Partners With Dapper Labs to Launch NFT Collection "UFC Strike"
The creators of the Flow blockchain network and NBA Top Shot, Dapper Labs, announced the launch of a new non-fungible token (NFT) compilation called “UFC Strike.” According to Dapper Labs, the new NFTs will launch on Sunday, January 23, and ... read more.Bank of Russia to Monitor Banks’ Dealings With Crypto Exchangers These Are the Crypto Economy"s 10 Most Expensive Assets per Unit in 2022 Bitcoin Mining Difficulty Reaches Lifetime High, It"s Now More Difficult Than Ever Before to Find a Block Reward Robinhood Begins Rolling Out Crypto Wallets to Select Customers