December 10, 2021

SEC Crypto Enforcement: Latest Stats

Dave blogged recently about the SEC’s approach to crypto enforcement – and a unique action to halt the effectiveness of a Form 10 registration statement that had been filed to register two tokens. Cornerstone Research also recently released updated data on cryto-related SEC enforcement actions through the third quarter of 2021. Here are key findings:

– In the first nine months of 2021, the SEC brought 19 enforcement actions related to cryptocurrency. Twelve were litigated in U.S. district courts, and seven were resolved within the SEC as administrative proceedings.

– Cryptocurrency enforcement activity in Q1 2021 was largely in line with the activity in Q1 2020. In Q2 2021, enforcement activity slowed down as senior positions were filled under Gensler. It bounced back in Q3 2021, with nine cryptocurrency enforcement actions.

– Since the first action in July 2013, the SEC has brought 94 cryptocurrency enforcement actions as of Sept. 30, 2021:

• 55 litigations

• 39 administrative proceedings

Liz Dunshee