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

So far, the U.S. Securities and Exchange Commission has taken 97 enforcement actions against cryptocurrency traders. Additionally, approximately $2.35 trillion in total monetary penalties have been imposed on participants in the digital asset market by the securities regulator.

97 Anti-Crypto Enforcement Acts

Cornerstone Research published a report titled “SEC Cryptocurrency Enforcement: 2021 Update” last week. According to the report, it analyzes SEC enforcement actions from July 2013 through December 2021.

As of December 31, 2019, the SEC had brought 97 enforcement action since July 2013.

According to the report, 58 enforcement actions were cryptocurrency-related litigations and 39 were administrative proceedings. About half of all 58 cases were filed in New York. 31 cases had been resolved as of January 3.

The securities watchdog brought in 10 trading suspension orders and delinquent filings orders. There were also a variety of subpoenas.

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.”

Gary Gensler was elected the new chairman of SEC on April 17, 2021. This is what the report says:

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. He stressed last week that cryptocurrency trading platforms need to be regulated in order for investors’ protection. The chairman also added a crypto advisor to his executive team in December 2017.

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.”

Let us know your thoughts on the SEC’s crypto enforcement actions. Please comment below.

Kevin Helms

Kevin is a graduate of Austrian Economics. He discovered Bitcoin in 2011, and has been an advocate ever since. He is interested in Bitcoin security and open-source software, network effects, and the intersection of cryptography and economics.

Image creditShutterstock. Pixabay. Wiki Commons

DisclaimerThis information is provided for educational purposes only. It does not constitute an offer, solicitation, or recommendation of products or services. is not a provider of investment, tax, legal or accounting advice. This article does not contain any information, products, or advice that can be used to cause or alleged result in any kind of damage.

Get more Crypto News at CFX Magazine