A drop in SEC’s crypto-related enforcement actions

In 2024, the Securities and Exchange Commission of the United States initiated 33 crypto-related enforcement actions, marking a 30% decrease from 2023, according to a recent report by Cornerstone Research.

This decrease is the first since 2021, with half of the actions occurring in September and October, prior to the presidential election.

Despite fewer actions, monetary penalties reached a record $4.98 billion, largely due to one major settlement.

Under the leadership of Gary Gensler, the SEC conducted a total of 125 enforcement actions compared to 70 under his predecessor, Jay Clayton.

Many actions were concentrated in September and October, likely due to the upcoming presidential election, with only four actions initiated in November and December.

Compared to the previous year, there was a significant decrease of over 50% in administrative proceedings, impacting overall action numbers.

The SEC maintained a focus on fraud allegations (73% of cases) but may have shifted priorities towards market manipulation etc.

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