SEC Ramps Up Crypto Oversight, Taking 500 Enforcement Actions in 2022

SEC took 780 enforcement actions in 2022, including 500 standalone cases, resulting in $5B in judgments and orders.

$930M distributed to harmed investors from enforcement actions.

Gensler claims most crypto assets likely meet the investment contract test, making them securities.

Gensler compares current crypto ecosystem to pre-securities law era of 1920s.

Gensler reiterates need for stricter regulations in crypto due to scams, frauds, and bankruptcies.