SEC enforcement actions cost crypto firms and individuals $1.7B in penalties
Cointelegraph
Published May 12, 2021 02:45PM ET
Updated May 13, 2021 04:20AM ET
The United States Securities and Exchange Commission was one of the top regulatory enforcers for cryptocurrency projects in the last seven years, resulting in $1.77 billion in penalties.
According to a report released yesterday by Cornerstone Research, the Securities and Exchange Commission, or SEC, brought 75 enforcement actions against crypto firms and individuals from July 1, 2013 to Dec. 31, 2020, mainly involving allegations of fraud or unregistered securities offerings. Many of the actions were litigated in U.S. district courts including the Southern District of New York, while others were resolved within the commission as administrative proceedings. Both often resulted in financial penalties.
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Written By: Cointelegraph
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