SEC Imposes Enforcement Actions Amounting to $4.47 Billion

The United States Securities and Exchange Commission has imposed in 2024 enforcement actions totaling almost $4.7 billion against cryptocurrency companies and their executives.

This is a staggering increase of over 3,000% from the previous year.

A report from Social Capital Markets on September 9 states that the SEC’s record-breaking year was largely driven by a massive settlement of $4.47 billion with Terraform Labs and its former CEO Do Kwon, the largest enforcement action in the SEC‘s history.

Despite having 19 fewer actions against crypto firms, the SEC’s 11 enforcement actions in 2024 brought in a significant increase of 3,018% in fines compared to the $150.3 million in fines from the previous year.

These fines include forfeiture, disgorgement, civil penalties, settlement, and prejudgment interest and were calculated from the start of the enforcement actions.