A recent study by Cornerstone Research indicates that in 2024, the US Securities and Exchange Commission (SEC) witnessed a notable decrease in enforcement actions related to crypto. The number of cases dropped by 30% in Gary Gensler’s final year as SEC chairman, from 47 in 2023 to just 33 in the previous year.
In spite of this reduction, the monetary fines rose to an all-time high of nearly $5 billion.
A Year Of Record-Breaking Penalties
Though enforcement numbers dropped, the SEC gathered penalties never seen before. The majority of this entire amount came from a single multi-billion dollar settlement. It is a far cry from the years Gensler led, in which fines, although significant, were less focused in specific cases.
Despite a brief rise in the number of lawsuits filed against the crypto industry in the final months that SEC Chair Gary Gensler was in office, the agency overall saw a 30% decrease in enforcement actions against the industry last year. https://t.co/ONnMsaAIOo pic.twitter.com/bMEMIiQ0V3
— Law360 (@Law360) January 24, 2025
Between April 2021 and December 2024, the US regulatory body levied fines totaling over $6 billion for 125 activities related to cryptocurrencies. When compared to the collection of $1.50 billion that Jay Clayton oversaw from 2017 to 2020, this amount is over four times greater than that amount.
Source: Cornerstone Research
Gensler’s Aggressive Stance On Fraud
Gensler’s administration placed a strong focus on fraud. Around 66% of cases during Clayton’
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Author: Christian Encila
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