The US Securities and Exchange Commission (SEC) is increasing its pressure on the cryptocurrency industry.
According to research by Cornerstone Research, the SEC did not take into account cryptocurrencies in the past year. He initiated 30 legal proceedings.
The SEC has never been associated with cryptocurrencies throughout history. so many did not initiate legal action. Similar to this in 2020, 29 when legal proceedings are initiated found.
The research also includes the SEC’s estimates through 2022 compared to 2021. 50% more legal action started is showing.
The most common reason for the U.S. Securities and Exchange Commission to initiate these transactions is, fraud and illegal issuance of securities it happened. In 50% of the proceedings, the defendants are accused of committing both crimes.
One of the most prominent among the lawsuits filed by the SEC last year regarding cryptocurrencies was the lawsuit against one of the former executives of Coinbase. In this case, the director in question, his brother and a third party, accused of misconduct.
One of the lawsuits that marked the year was the lawsuit filed in December against Sam Bankman-Fried, the former CEO of FTX.
According to Simona Mola of Cornerstone Research, the SEC As long as Gary Gensler remains president, he will continue to “prioritize (cases) crypto assets”.