Cash News
The former Goldman Sachs banker has led the strongest regulatory crackdown on the digital-asset industry, bringing dozens of cases against crypto companies and traders large and small, including financial behemoths Coinbase Global and proprietary trading firm DRW Holdings.
The SEC has often touted its success in court in obtaining judgments that align with its view that decades-old securities laws apply to the upstart digital asset class. It has also notched some major fines against some of the biggest names in the industry.
The agency won a massive US$4.5 billion fine and disgorgement from Terraform Labs, a stablecoin issuer, and founder Do Kwon in April. The agency has not yet released its annual enforcement report for fiscal 2024 actions, but in the prior year, the agency brought 46 such cases, a more than 50 per cent increase from the year prior, according to a report by consulting firm Cornerstone Research.