The U.S. Securities and Exchange Commission (SEC) reported the highest penalties of $8.2 billion in fiscal year 2024, with over half of the total coming from its case against Terraform Labs and its founder, Do Kwon. Without that settlement, the SEC’s financial remedies would have been the lowest since 2013.
Despite a 26% drop in the number of enforcement actions, the SEC’s financial haul soared by 65.5% compared to 2023. The crypto industry is optimistic about Chair Gary Gensler’s departure, as he announced stepping down on January 20, 2025, following Donald Trump’s re-election. Gensler’s leadership saw the SEC launch an aggressive offensive against the crypto sector, targeting high-profile firms.
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<p>The post SEC Hits Record With $8.2 Billion in Penalties for 2024, Mostly From Terraform Labs Case first appeared on CoinBuzzFeed.</p>