The SEC has taken 97 crypto enforcement actions to date – making crypto a top priority for Chairman Gensler – Regulation

The US Securities and Exchange Commission (SEC) has launched 97 cryptocurrency enforcement actions to date. In addition, the securities regulator has imposed fines totaling approximately $2.35 billion on digital asset market participants.

97 Crypto Enforcement Actions

Cornerstone Research released a Test report titled “SEC Cryptocurrency Enforcement: 2021 Update” last week. The report analyzes the SEC's enforcement activities from July 2013 to December 2021, detailing the company and stating:

Since the first lawsuit in July 2013, the SEC has filed a total of 97 enforcement actions as of December 31, 2021.

According to the report, 58 enforcement actions were cryptocurrency-related litigation and 39 were administrative proceedings. Additionally, approximately half of the 58 lawsuits occurred in New York State. As of January 3, 31 lawsuits had been resolved.

In addition, the securities regulator filed 10 delinquent filing orders, 20 trading suspension orders, and a number of subpoenas and follow-up administrative proceedings.

The report also states: “As of year-end 2021, the SEC had imposed fines totaling approximately $2.35 billion on digital asset market participants.”

The new SEC Chairman, Gary Gensler, was sworn in on April 17, 2021. The report states:

Under the new administration, the SEC’s enforcement activity continues to focus on cryptocurrency-related actions.

Gensler has made cryptocurrency one of the SEC's top priorities. Last week he emphasized that crypto trading platforms must be regulated to ensure investor protection. In December last year, Chairman a Crypto Advisor to its senior executives.

The North American Securities Administrators Association (NASAA) and state regulators said Earlier this month that “investments related to cryptocurrencies and digital assets represent our biggest threat to investors…by far.”

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

As a student of Austrian economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the interface between economics and cryptography.

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