SEC boasts high-volume crypto enforcement in 2023 report
The Securities and Exchange Commission (SEC) has proudly announced that it has had another “highly productive and impactful” year enforcing crypto-related misconduct, highlighting cases like Terraform Labs, Richard Heart, and Sam Bankman-Fried. According to its fiscal year report published on Tuesday, the SEC filed more enforcement actions this year than in 2022, with 784 in total — up 3% from last year. Of these, 501 are stand-alone enforcement actions, marking an 8% increase year-on-year. The commission ordered almost $5 billion in financial remedies in 2023 and distributed nearly $1 billion to harmed investors, the report added. The $5B in remedies obtained this year makes it the second-most lucrative year for the SEC, after the record-breaking numbers of 2022. In 2022, the SEC also distributed over $900 million to harmed investors. This year’s SEC Whistleblower Program awarded a record-breaking $279 million to one person who submitted a useful tip....