The SEC has taken 97 crypto enforcement actions to date – representing...

The US Securities and Exchange Commission (SEC) has implemented 97 cryptocurrency enforcement actions to date. Furthermore, the securities regulator imposed approximately $2.35 billion in total monetary penalties on digital asset market participants. 97 Cryptocurrency 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, and the company details: “Since the first action in July 2013, the SEC has filed a set of 97 enforcement actions as of December 31, 2021.” According to the report, there were 58 enforcement actions that were cryptocurrency-related lawsuits and 39 administrative actions. In addition, about half of the 58 claims were registered in New York State.

As of January 3, 31 lawsuits had reached a solution. Moreover, the securities watchdog also served 10 late filing orders, 20 trading suspension orders, and a number of subpoenas and subsequent administrative actions. The report also details: “As of the end of 2021, the SEC has imposed approximately $2.35 billion in total financial penalties on digital asset market participants.” The new SEC Chairman, Gary Gensler, was sworn in on April 17, 2021.

The report notes: “Under the new administration, SEC enforcement activity has continued to focus on actions related to cryptocurrencies.”  Gensler has made cryptocurrency an SEC priority.

Last week, he stressed that cryptocurrency trading platforms must be regulated to ensure investor protection. In December last year, the chairman added a cryptocurrency advisor to his executive staff. “Investments related to cryptocurrencies and digital assets are the greatest threat to our investors,” the North American Securities Administrators Association (NASAA) and state regulators said earlier this month.

To a large extent.” Source