The U.S. Securities and Exchange Commission (SEC) stated that the regulatory agency launched a total of 583 enforcement actions in fiscal year 2024. Although it dropped 26% from last year, the total fines for the year nearly doubled to $8.2 billion, setting a new record in the history of the SEC. highest record since.
U.S. SEC Chairman Gary Gensler expressed his affirmation. He said: "Law enforcement departments are like staunch guardians of the market, tracking facts and laws, and bringing criminals to justice. This year's results show that we have successfully promoted the integrity of the capital market. Benefit investors and issuers.”
Gary Gensler is expected to step down on January 20 next year, which coincides with the inauguration day of US President-elect Donald Trump. Since taking office in April 2021, Gary Gensler has led intense enforcement against the cryptocurrency industry, filing lawsuits against large exchanges such as Binance and Coinbase. His departure could usher in a more crypto-friendly regulatory environment for the new administration.
According to the annual enforcement report released last week, the U.S. SEC’s enforcement actions this year have been particularly targeted at cryptocurrency, private equity funds and other high-risk financial activities. Cases in the cryptocurrency industry have focused on “unregistered token sales” and “fraud.” Projects" mostly. In addition, the SEC also enforces violations and dangerous trading practices of private equity funds.
The report mentioned that the US SEC’s total fines in the past year reached $8.2 billion, setting a record in the history of the regulatory agency, 56% of which came from the settlement agreement with Terraform Labs.
In June this year, Terraform Labs reached a settlement with the U.S. SEC, agreeing to pay nearly $4.5 billion in illegal gains, prejudgment interest, and civil penalties to settle the securities fraud civil lawsuit, of which $204 million must be borne by Do Kwon out of his own pocket. .
"U.S. SEC reports report card: 583 enforcement actions in 2024, total fines hit a new high of US$8.2 billion" This article was first published on (Block Guest).