Crime doesn't pay. A new report reveals the SEC brought a total of 97 enforcement actions worth $2.35 billion between 2013 and the end of 2021.
The Securities and Exchange Commission has issued a total of approximately $2.35 billion in penalties against participants in the digital asset marketplace since 2013 according to a Jan 19 report by Cornerstone Research., SEC Cryptocurrency Enforcement: 2021 Update, found that the SEC brought a total of 97 enforcement actions worth $2.35 billion between 2013 and the end of 2021.
Fifty eight of the total of 97 were actions litigations and the remaining 39 were administrative proceedings. Of the total $2.35 billion raised by the litigations, $1.71 billion was charged in litigation and $640 million in administrative proceedings.The majority of those charged were “firm respondents only,” racking up $1.86 billion of the total $2.35 billion. Meanwhile, individual respondents were charged the remaining $490 million.
points out that SEC-initiated litigation in the crypto space didn’t begin to pick up until 2017. Between 2013 and 2017, there was only a total of six SEC-initiated crypto cases. The agency launched 20 of the total 97 actions in 2021 – 14 litigation actions in U.S. federal courts and six administrative proceedings. Of the 20 total enforcement actions, 70% were related to initial coin offerings . The report states:
“Of the 20 enforcement actions brought in 2021, 65% alleged fraud, 80% alleged an unregistered securities offering violation, and 55% alleged both.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
$219 Million Worth of Liquidations Recorded as Cryptomarket Total Valuation Dips Below $2 TrillionCryptomarket total value falls below $2 trillion after $219 million worth of liquidations Crypto cryptocurrency
Read more »
'Worst' house on 'best block' in San Francisco fetches nearly $2 millionVictorian-era home snapped up by developer despite boarded-up windows, peeling paint and unstable foundation.
Read more »
MLB NFTs on Candy Clock $2.7M in Marketplace Debut.CandyDigital saw $2.7 million in sales volume following the launch of its MLB NFT marketplace this weekend. elitanjourno reports
Read more »
Heidi Klum Says Her Legs Are Insured for $2 Million, but One Is “More Expensive” Than the OtherYes, Heidi Klum's legs are insured for $2 million—but she says one is technically worth more than the other.
Read more »
The Top 10 Highest-Paid Musicians in 2021 Made Over $2 Billion — & Only a Few Released New MusicFrom Taylor Swift to Kanye West, these musicians made the most profit in 2021. 🎶
Read more »
Heidi Klum Shares Why Her Legs Are Insured for $2 Million—And Why One Is ‘More Expensive’ Than the OtherShe also revealed what other body part deserves some financial coverage. 👀
Read more »