The Securities and Exchange Commission (SEC) ramped up its cryptocurrency enforcement actions in 2024, imposing record penalties totaling $4.98 billion. The SEC targeted fraud, unregistered securities offerings, and NFTs, signaling a tightening regulatory grip on the digital asset space. The commission brought 33 enforcement actions, a notable shift from its previous focus on ICOs to more complex cases. This strategic evolution reflects the evolving landscape of the crypto market.
The SEC ’s 2024 crypto enforcement actions resulted in $4.98B in penalties, targeting fraud, unregistered offerings, and NFTs. Learn how these cases shape the future of crypto regulation.
The Commission brought 33 enforcement actions in 2024. It marked a strategic evolution from its previous focus on ICOs to more complexHowever, the monetary impact intensified significantly, with penalties reaching a record $4.98 billion — largely driven by the landmark Terraform Labs settlement of $4.55 billion.Fraud and unregistered securities offerings remained the SEC’s top priorities, with 73% of enforcement actions alleging fraud and 58% involving unregistered securities.
While the SEC continued targeting individuals and firms, there was a notable shift toward charging firms rather than individuals. In 2024, 43% of enforcement actions were against firms only, up from 23% in 2023.The sector demonstrated particularly strong momentum in the latter half of the year, reaching nearly 200 million monthly transactions – a clear indication of growing institutional adoption despite regulatory headwinds.
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