SEC crypto enforcement actions under Gary Gensler reach 10-year high
According to Cornerstone Research, since the SEC chair was confirmed by the U.S. Senate in 2021, the commission has “ramped up” the number of crypto-related enforcement cases.
The United States Securities and Exchange Commission (SEC) brought 46 enforcement actions against crypto firms in 2023, more than double the number of cases in 2021.
According to a report released on Jan. 24 from litigation consulting firm Cornerstone Research, the number of crypto-related enforcement cases brought by the SEC in 2023 was the highest since 2013, suggesting that digital assets were a “top priority” for the commission. Of the 46 enforcement actions in 2023, Cornerstone reported the SEC imposed $281 million in monetary penalties for settlements and tripled the number of administrative proceedings from 2022.
“Chair Gensler has noted that ‘enforcement is a tool, not the destination,’ and the number of SEC enforcement actions brought in the crypto space has ramped up over the last two years,” said Cornerstone’s Simona Mola, the report’s author.
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