Crypto Report | Jan 24, 2024
SEC Intensifies Crypto and Digital Asset Oversight in 2023
As highlighted in a comprehensive report by Cornerstone Research (view release), in 2023, the U.S. Securities and Exchange Commission (SEC) intensified its regulatory oversight and enforcement of crypto reflecting a strategic prioritization of digital asset market regulation under the leadership of Chair Gary Gensler.
See: CSA Consultation on Public Investment Funds and Crypto Assets
- The SEC executed 46 enforcement actions against various digital asset market participants in 2023, a 53% increase from the previous year and the highest number since 2013.
- These actions comprised 26 litigations in U.S. federal courts and 20 administrative proceedings, indicating a broad scope of regulatory reach.
- Of the 46 enforcement actions, 26 cases (57% of the total) involved allegations of fraud.
- 28 of these actions (61% of the total) were related to claims of violations concerning unregistered securities offerings.
- The SEC levied a cumulative total of approximately $2.89 billion in fines and penalties against participants in the digital asset market.
Outlook
Gary Gensler's enforcement trend is likely to continue as the SEC maintains its focus on investor protection and market integrity. Crypto entities and investors must adapt to the emerging regulatory landscape to mitigate risks and ensure compliance.
Download the 29 page PDF --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
Related Posts
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://ncfacanada.org/secs-escalating-crypto-enforcement/
- :is
- 150
- 20
- 2013
- 2018
- 2023
- 24
- 26
- 29
- 300
- 32
- 46
- a
- actions
- adapt
- administrative
- affiliates
- against
- Allegations
- alternative
- alternative finance
- and
- approximately
- artificial
- artificial intelligence
- AS
- asset
- Assets
- become
- Billion
- blockchain
- broad
- by
- cache
- Canada
- cases
- Chair
- claims
- closely
- commission
- community
- compliance
- Comprised
- consultation
- continue
- cornerstone
- Courts
- create
- Crowdfunding
- crypto
- crypto-assets
- cryptocurrency
- decentralized
- digital
- Digital Asset
- Digital Assets
- distributed
- ecosystem
- Education
- emerging
- enforcement
- engaged
- ensure
- entities
- Ether (ETH)
- exchange
- Exchange Commission
- executed
- Federal
- finance
- financial
- financial innovation
- fines
- fintech
- Focus
- For
- from
- funding
- funding opportunities
- funds
- Gary
- Gary Gensler
- Gensler
- get
- Global
- Government
- helps
- highest
- Highlighted
- HTML
- http
- HTTPS
- image
- in
- Increase
- indicating
- industry
- information
- Innovation
- innovative
- Insurtech
- integrity
- Intelligence
- intensified
- Intensifies
- investment
- investment funds
- investor
- investor protection
- Investors
- involved
- ITS
- Jan
- jpg
- landscape
- Leadership
- likely
- maintains
- Market
- max-width
- member
- Members
- Mitigate
- more
- must
- networking
- number
- of
- on
- opportunities
- or
- Oversight
- page
- participants
- partners
- payments
- peer to peer
- perks
- plato
- Plato Data Intelligence
- PlatoData
- please
- previous
- prioritization
- Proceedings
- projects
- protection
- provides
- public
- reach
- reflecting
- Regtech
- Regulation
- regulatory
- regulatory landscape
- related
- report
- research
- risks
- s
- scope
- SEC
- Sectors
- Securities
- Securities and Exchange Commission
- Services
- since
- stakeholders
- Stewardship
- Strategic
- that
- The
- These
- thousands
- to
- today
- Tokens
- Total
- Trend
- u.s.
- U.S. Securities
- U.S. Securities and Exchange Commission
- U.S. Securities and Exchange Commission (SEC)
- under
- unregistered
- unregistered securities
- Update
- various
- vibrant
- Violations
- Visit
- were
- with
- works
- year
- zephyrnet