Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
US SEC has fined cryptocurrency industry $7.4bn since 2013

US SEC has fined cryptocurrency industry $7.4bn since 2013

Bitget2024/09/10 22:00

The US Securities and Exchange Commission (SEC) has fined the cryptocurrency industry $7.4bn since 2013, according to a study published by Social Capital Markets. With Terraform Labs agreeing to pay $4.47bn earlier this year, the total fines for 2024 have already surpassed previous years, reaching $4.7bn, the report said. However, the report also said that the total number of fines issued dropped to 11 from 30 last year, when the SEC imposed fines totalling $150 million on the crypto industry. Social Capital Markets said in its report, ‘The overall increase in fines suggests a shift in firms’ strategies towards fewer, higher impact cases. This change underscores the need for cryptocurrency firms to prioritise regulatory compliance as the financial risks associated with breaches have escalated.’

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Trending news

More
1
Hong Kong Financial Secretary Paul Chan: Stablecoins and other digital assets have development potential, and international cooperation is needed to manage risks
2
Data: A new address went long on $41 million ENA, while simultaneously shorting $42 million worth of ETH and BTC for hedging.

Crypto prices

More
Bitcoin
Bitcoin
BTC
$107,771.27
+0.60%
Ethereum
Ethereum
ETH
$3,929.92
+1.15%
Tether USDt
Tether USDt
USDT
$1
-0.00%
BNB
BNB
BNB
$1,101.55
-0.83%
XRP
XRP
XRP
$2.39
+1.20%
Solana
Solana
SOL
$189.4
+1.92%
USDC
USDC
USDC
$1.0000
+0.00%
TRON
TRON
TRX
$0.3177
+1.51%
Dogecoin
Dogecoin
DOGE
$0.1955
+4.23%
Cardano
Cardano
ADA
$0.6440
+1.25%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter