⚖️The number of SEC lawsuits against crypto firms increased by 50% 💹
In 2023, the number of SEC enforcement actions against cryptocurrency companies rose to a record 46.
For comparison, during the previous reporting period the Commission sent only 30 claims, which is almost 50% less.
By the end of 2023, the SEC had imposed $2.89 billion in fines on market participants. In the previous period, company payments amounted to just over $281 million.
In total, since 2013, the agency has taken 173 enforcement actions against cryptocurrency organizations.
Last year, the regulator filed lawsuits against the Binance and Coinbase exchanges, accusing them of illegally selling securities, violating sanctions and facilitating money laundering.
In August, the SEC accused Impact Theory of unregistered placement of investment contracts in the form of non-fungible tokens. The firm agreed to pay $6.1 million in fines and interest, as well as destroy all tokens under its control.
