According to Blockworks, a new report released by Cornerstone Research shows that the SEC implemented a total of 46 cryptocurrency-related enforcement actions in 2023, an increase of more than 50% compared to 2022 (30) and a record high. 61% of the lawsuits accuse crypto entities of violating securities laws, and 57% accuse these entities of committing fraud in violation of the Securities Act or the Exchange Act. By the end of 2023, the SEC had fined crypto market participants a total of $2.89 billion, with settlements exceeding $281 million. Since 2013, the agency has conducted 173 enforcement actions against cryptocurrency entities.