1 year ago
The U.S. Securities and Exchange Commission (SEC) brought 30 enforcement actions against crypto marketplace participants past twelvemonth — the highest since 2013, according to a Cornerstone Research report.
The fig of SEC enforcement actions successful 2022 was up 50% from the 20 actions launched successful 2021, the study stated.
Out of the 30 enforcement actions, 14 focused connected Initial Coin Offerings (ICOs) for alleged unregistered securities offerings, the study found. Around 57% of these ICO related actions besides included allegations of fraud, arsenic per the report. The SEC has launched 127 enforcement actions betwixt 2013 and 2022, and 55% of them focused connected ICOs.
Fraud and unregistered securities offering person been the astir communal allegations successful bulk of the SEC enforcement actions. Of the 127 actions, 59% alleged fraud portion 73% alleged unregistered securities offering and 44% alleged both.
The SEC charged a full of 79 defendants successful 2022, retired of which 79% were idiosyncratic defendants portion the remaining 21% were firms. The proportionality of SEC enforcement actions charging lone individuals grew nether Gary Gensler’s enactment from astir 20% betwixt 2013 and 2020 to 35% successful 2021 and 50% successful 2022, the study found.
Since 2013, the SEC has imposed fines connected crypto firms totaling $2.61 billion, of which, implicit 9% oregon $242 cardinal was imposed past twelvemonth alone.
New York has been location to 44% of the 82 litigations SEC launched against crypto-related firms and individuals since 2013, arsenic per the report. However, implicit the caller years, SEC is progressively litigating crypto respondents successful different states, the study said.
The station SEC crypto enforcement actions up 50% successful 2022 – astir fractional against ICOs appeared archetypal connected CryptoSlate.
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