SEC Records Second-Highest Financial Remedies of Nearly $5 Billion in FY 2023
The SEC doubled down on its enforcement actions against the crypto industry in FY 2023, with high-profile cases including Binance, Coinbase, and former FTX CEO SBF....
- The U.S. Securities and Exchange Commission (SEC) reported a three percent increase in enforcement actions filed in FY2023 compared to the previous year.
- The SEC targeted the crypto industry, filing charges against top crypto entities and individuals for fraud, securities violations, and unregistered operations.
- The financial remedies ordered by the SEC in FY2023 amounted to $4.9 billion, with a significant portion comprising disgorgement and prejudgment interest.
- The SEC distributed $930 million to affected investors and awarded $600 million in whistleblower awards.
- Several celebrities settled with the SEC for unlawfully promoting cryptocurrency assets without disclosing payment.
The article provides a factual account of the SEC's enforcement actions in FY2023, highlighting the increase in cases and the focus on the crypto industry. The tone is neutral, presenting the information without expressing a positive or negative sentiment.