In its final year under former Chair Gary Gensler, the US Securities and Exchange Commission (SEC) saw a 30% decline in crypto-related enforcement actions, launching just 33 lawsuits in 2024 compared to 47 the previous year. This data comes from a report by Cornerstone Research. The total number of defendants in crypto enforcement actions last year reached 90, which included 57 individuals and 33 firms. Notably, administrative proceedings fell by over 50%. The SEC's actions resulted in nearly $5 billion in monetary penalties, significantly influenced by the case against Terraform Labs. Gensler's tenure, which lasted from 2021 until his resignation on January 20, 2025, led to a marked increase in crypto enforcement, almost 80% more than under former chair Jay Clayton. Of all actions, fraud was cited in 73% of cases, while allegations related to unregistered securities offerings were present in 58%. The SEC executed more than half of its enforcement actions during September and October, with only four occurring post-election in November. By 2024, 47% of the 207 total crypto enforcement actions since 2013 involved initial coin offerings and non-fungible tokens.

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