SEC filed 784 lawsuits in 2023
The U.S. Securities and Exchange Commission (SEC) had “another very productive and productive year” for enforcement activity related to crypto-asset securities.
In fiscal year 2023, the agency recommended action against billions of dollars of cryptocurrency scams, unregistered crypto asset offerings, platforms and intermediaries, and illicit marketing.
The SEC report said that during the year, charges were filed in large crypto frauds, in particular against the company Terraform Labs and its founder Do Kwon; Richard Hurt and three companies he controls - Hex, PulseChain and PulseX; FTX CEO Sam Benkman-Fried.
The Commission also noted claims against companies that allegedly offered unregistered securities through crypto asset lending or staking programs, in particular Genesis and Gemini, Celsius, Kraken and Nexo.
Additionally, the SEC filed its first lawsuits against NFT issuers. The agency charged Impact Theory LLC and Stoner Cats 2 LLC with conducting unregistered placements of crypto-asset securities in the form of NFTs
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