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    <p>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.</p>
    <p>According to its fiscal year <a rel="noopener noreferrer nofollow" title="report" href="https://thebittimes.com/tag/report.html">report</a> published on Tuesday, the <a rel="noopener noreferrer nofollow" title="SEC" href="https://thebittimes.com/tag/sec.html">SEC</a> filed more <a rel="noopener noreferrer nofollow" title="enforcement" href="https://thebittimes.com/tag/enforcement.html">enforcement</a> actions this year than in 2022, with 784 in total — up 3% from last year. Of these, 501 are stand-alone <a rel="noopener noreferrer nofollow" title="enforcement" href="https://thebittimes.com/tag/enforcement.html">enforcement</a> actions, marking an 8% increase year-on-year.</p>
    <p>The commission ordered almost $5 billion in financial remedies in 2023 and distributed nearly $1 billion to harmed investors, the report added.</p>
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     <li>The $5B in remedies obtained this year makes it the second-most lucrative year for the SEC, after the record-breaking numbers of 2022.</li>
     <li>In 2022, the SEC also distributed over $900 million to harmed investors.</li>
     <li>This year’s SEC Whistleblower Program awarded a record-breaking $279 million to one person who submitted a useful tip.</li>
    </ul>
    <p>The SEC’s report doesn’t mention the most important record it broke this year: the amount of rules and regulatory proposals filed by a single chairperson since the aftermath of the 2008 financial crisis. In the first 850 days of his leadership, SEC chair Gary Gensler has put forward 47 proposals; 22 of which have been adopted. These figures have only grown larger since they were tallied at the end of August 2023 by the Financial Times.</p>
    <p>However, Gensler’s firm hand has been criticized on both sides of the aisle, who feel that when it comes to regulation, quantity can never match quality. The 2010 Dodd-Frank financial reform act and other laws mandated 59% of former chair Mary Jo White’s proposals from 2013 to 2015. Meanwhile, just 17% of Gensler’s proposals were mandated by congressional legislation, the FT reported less than three months ago.</p>
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       Here’s why ‘news’ attacking Gary Gensler is all over crypto media
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    <p><em>Read more: Coinbase claps back at <a rel="noopener noreferrer nofollow" title="SEC" href="https://thebittimes.com/tag/sec.html">SEC</a> proposal, chief exec targets Gary Gensler</em></p>
    <p>The <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> industry has reacted particularly negative towards the <a rel="noopener noreferrer nofollow" title="SEC" href="https://thebittimes.com/tag/sec.html">SEC</a>’s regulatory crackdown. Executives have expressed concern over the rapid rise in <a rel="noopener noreferrer nofollow" title="enforcement" href="https://thebittimes.com/tag/enforcement.html">enforcement</a> action when clear <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> guidelines are lacking — leaving guilty parties ‘unaware’ of how to adhere to non-existent guidelines, they claim.</p>
    <p>The SEC, however, maintains that investor protection is at the heart of its work. A rise in regulation is in response to swift technological advancements, the commission argues. And when it comes to crypto, the SEC believes that every ICO is unlawful.</p>
    <p><em>Got a tip? Send us an email or ProtonMail. For more informed news, follow us on&nbsp;X,&nbsp;</em><em>Instagram</em><em>,&nbsp;</em><em>Bluesky</em><em>, and&nbsp;</em><em>Google News</em><em>, or subscribe to our&nbsp;</em><em>YouTube</em><em>&nbsp;channel.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/sec-boasts-high-volume-crypto-enforcement-in-2023-report-tbt70567.html">https://thebittimes.com/sec-boasts-high-volume-crypto-enforcement-in-2023-report-tbt70567.html</a></p>

SEC boasts high-volume crypto enforcement in 2023 report

TheBitTimes

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