Banks vs. exchanges — regulators overwhelmingly penalize fiat, not crypto
Cointelegraph
Published Sep 03, 2021 04:55PM ET
Updated Sep 04, 2021 07:00PM ET
While regulators have often targeted projects in and out of the crypto space, the fines levied against digital asset exchanges are a fraction of those against traditional financial institutions.
According to data from Good Jobs First’s violation tracker, the platform analyzed 50 of the biggest fines regulators levied against major banks, investment firms, and brokers over the last 20 years. Bank of America (NYSE:BAC) accrued roughly $82 billion covering 251 different fines including securities violations, while JPMorgan Chase (NYSE:JPM) and Citigroup (NYSE:C) were also some of the most fined banks in the U.S. since 2000 with penalties totaling $35.9 billion and $25.5 billion, respectively.
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Written By: Cointelegraph
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