U.S. Regulators Increase Crypto Penalties by 30x in 2024

In the United States, 2024 saw a dramatic increase in penalties against cryptocurrency companies, with fines rising 30 times compared to previous years. As part of a broader regulatory crackdown, the U.S. Securities and Exchange Commission (SEC) has significantly heightened its enforcement actions against non-compliant crypto firms, including penalties for fraudulent activities and failure to register digital assets.

This tougher stance comes as the SEC seeks to protect investors and ensure that all crypto businesses adhere to strict compliance standards. The heightened enforcement is expected to have lasting impacts on the industry, potentially pushing many companies out of business or into compliance.