Here is How Much The SEC Issued Fines To The Crypto Money Sector This Year – A Historical Record!

The U.S. Securities and Exchange Commission (SEC) completed a historic year in fiscal 2024, announcing 583 enforcement actions and a record $8.2 billion in financial penalties.

The number of enforcement actions increased by 14% over 2023, reflecting what the SEC says is an intensive effort to protect market integrity and investor interests. Chairman Gary Gensler commended the efforts of the Enforcement Division, saying, “The Enforcement Division is a resolute watchdog that pursues the facts and the law to hold wrongdoers accountable. As this year’s results demonstrate, the Division helps uphold the integrity of our capital markets for the benefit of investors and issuers.”

The SEC’s 2024 enforcement priorities included cracking down on fraud, private funds and risky trading practices in cryptocurrency markets. The actions against major crypto companies including Binance and Coinbase highlighted the agency’s scrutiny of unregistered token sales, fraudulent marketing schemes and violations of securities laws.

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This year also marks the end of Gary Gensler’s tenure as SEC Chairman. Gensler is scheduled to leave on January 20, 2025, coinciding with the inauguration of President-elect Donald Trump. Gensler, who has led the SEC since April 2021, has made crypto enforcement a cornerstone of his agenda.

*This is not investment advice.

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