So far, the Securities and Exchange Commission (SEC) in the United States has brought 97 cryptocurrency enforcement proceedings. In addition to this, the securities regulator has fined digital asset market participants a total of $2.35 billion in monetary penalties.

Last week, Cornerstone Research released a report titled  SEC Cryptocurrency Enforcement: 2021 Update.  
<blockquote>According to the company, the report examined SEC enforcement activities from July 2013 to December 2021, the company elaborated in detail: “Since the first action in July 2013, the SEC has brought a total of 97 enforcement actions as of December 31, 2021."</blockquote>
According to the report, there were 58 cryptocurrency-related litigations and 39 administrative proceedings in the enforcement activities. Almost half of the 58 lawsuits were filed in the state of New York. As of January 3, 31 lawsuits had been settled. Moreover, the securities regulator issued ten overdue filing orders, twenty trading suspension orders, as well as a number of subpoenas and administrative actions.
<blockquote>The study revealed that the SEC's enforcement effort has remained focused on cryptocurrencies under the current administration. The report notes: “Under the new administration, the SEC’s enforcement activity has continued to focus on cryptocurrency-related actions.”</blockquote>
Last week, Gary Gensler, Chairman of SEC stressed that crypto trading platforms must be regulated to ensure investor protection. In December last year, the <a href="https://www.cryptoknowmics.com/news/gary-gensler-stresses-regulatory-oversight-on-crypto-platforms/">chairman</a> added a crypto adviser to his executive staff. Earlier this month, The North American Securities Administrators Association (NASAA) and state regulators said that 'investments related to cryptocurrencies and digital assets are our top investor threat by far.'

SEC Takes Strict Action Against Cryptocurrencies

So far, the Securities and Exchange Commission (SEC) in the United States has brought 97 cryptocurrency enforcement proceedings.

Yash completed his graduation in b.tech (Computer Science ). Yash is passionate about applications of blockchain technology. Yash believes use of blockchain technology can transform our lives at a large scale. Yash daily reads articles, research reports and also  documentation of different protocols. Yash listen to podcasts to know the view of industry experts.

SEC Takes Strict Action Against Cryptocurrencies

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