The US SEC has imposed $2.4 billion in fines related to cryptocurrency since 2013.

According to a Jan. 19 report from Cornerstone Research, the U.S. Securities and Exchange Commission (SEC) has fined around $2.35 billion in digital entrants since 2013.

According to the report "US SEC Security of Cryptocurrencies: A 2021 Amendment", between 2013 and the end of 2021, the US SEC has a total of 97 regulatory values ​​of $2.35 billion.

Of the 97 lawsuits, 58 were class actions and the remaining 39 were administrative actions. Of the 2.35 billion yuan raised through lawsuits, 1.71 billion yuan was settled through lawsuits and 640 million yuan was settled through lawsuits.

US SEC crypto-monnaie foob foob Source: Cornerstone Research

Most of the defendants are "operators", accounting for $1.86 billion of the $2.35 billion total. Meanwhile, $490 million came from respondents.

The SEC first fined cryptocurrency participants in July 2013, but the report notes that SEC-initiated litigation in the cryptocurrency space only began to increase in 2017. 2013 and 2017, only six cryptocurrency cases were initiated by the US SEC.

The agency has filed 20 of 97 lawsuits by 2021. Fourteen cases have gone to US federal court and trial. Out of a total of 20 regulators, 70% are concerned by ICOs (initial coin emission). The notice says:

"Of the 20 policies that began in 2021, 65% were charged with fraud, 80% violated the ban on registration, and 55% charged both."

Author Simona Mola said in a statement that the SEC's recent crackdown on cryptocurrencies could have an effect on the April 2021 nomination of SEC Chairman Gary Gensler. The law has “increased”.

“The SEC is the first to take action against crypto lending platforms, unregistered digital exchanges and unsecured (DeFi) lenders.”

“We can expect these stringent measures to continue into the new year,” said Abe Chernin, vice president of Cornerstone Research.

"Because the SEC has focused on this area, we may see more scrutiny of certain providers, such as DeFi platforms, in 2022."

In the last week of December 2021, Gensler added a new employee, Corey Frayer, to help organizations guide cryptocurrency management. Earlier, it was announced that Elad Roisman had resigned from his position on the US SEC board.