The U.S. Securities as well as Exchange Commission (SEC) has brought 97 cryptocurrency enforcement actions until now. Furthermore, the safety and securities regulatory authority has enforced around $2.35 billion in complete financial fines versus electronic possession market individuals.
97 Crypto Enforcement Actions
Cornerstone Research released a record entitled “SEC Cryptocurrency Enforcement: 2021 Update” recently. The record examines SEC enforcement tasks from July 2013 to December 2021, the firm described, clarifying:
Since the initial activity in July 2013, the SEC has brought a total amount of 97 enforcement actions since December 31, 2021.
According to the record, 58 enforcement actions were cryptocurrency-related lawsuits as well as 39 were management process. In enhancement, concerning fifty percent of the 58 lawsuits happened in the state of New York. As of Jan. 3, 31 lawsuits had actually gotten to a resolution.
Moreover, the safety and securities guard dog additionally brought 10 overdue declaring orders, 20 trading suspension orders, as well as a variety of subpoenas as well as follow-on management process.
The record additionally information: “As of year-end 2021, the SEC had imposed approximately $2.35 billion in total monetary penalties against digital asset market participants.”
The brand-new SEC chairman, Gary Gensler, was promised in on April 17, 2021. The record notes:
Under the brand-new management, the SEC’s enforcement task has remained to concentrate on cryptocurrency-related actions.
Gensler has made cryptocurrency among the SEC’s top concerns. Last week, he worried that crypto trading systems need to be controlled to guarantee financier security. In December in 2014, the chairman included a crypto consultant to his executive team.
The North American Securities Administrators Association (NASAA) as well as state regulatory authorities stated previously this month that “investments related to cryptocurrencies and digital assets is our top investor threat .. by far.”
What do you consider the variety of crypto enforcement actions the SEC has taken? Let us understand in the remarks area listed below.
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