The SEC is having a record crypto enforcement year, bolstered by a $4.47 billion settlement with Terraform Labs and former CEO Do Kwon.
The United States Securities and Exchange Commission has imposed nearly $4.7 billion worth of enforcement actions against crypto firms and executives in 2024 — an over 3,000% jump from 2023.
The SEC’s record-setting year was mostly boosted by its massive $4.47 billion settlement with Terraform Labs and former CEO Do Kwon in June — its “largest enforcement action to date,” according to a Sept. 9 report from Social Capital Markets.
The regulator’s 11 enforcement actions in 2024 have seen it net a 3,018% increase from its $150.3 million worth of fines last year, despite it having 19 fewer actions laid against crypto firms.
