Skip to main content

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

US SEC Has Taken 97 Crypto Enforcement Actions So Far: Report

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.”

What do you think about the number of crypto enforcement actions the SEC has taken? Let us know in the comments section below.



from Bitcoin News https://ift.tt/3KH8WWL
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more