SEC Enforcement of Cryptocurrency Dropped 30% in the Last Year of the Gensler Administration
Summary
Monetary penalties imposed reached a record high of $4.98 billion, largely attributable to one multi-billion-dollar settlement. "The SEC has continued to focus on its implementation of the Howey test," said Abe Chernin, a Cornerstone Research vice president and cohead of the firms FinTech practice. "Despite the drop in number of enforcement actions in 2024, cryptocurrency remained a top priority during Chair Genslers final year," said Simona Mola, the reports author and a principal at Cornerstone Research. • Fourteen actions market manipulation or failure to register as a broker-dealer, an increase compared to prior years. The firm works with an extensive network of prominent academics and industry practitioners to identify the best-qualified expert for each assignment.