The U.S. Securities and Exchange Commission (SEC) has collected over $7.42 billion in civil penalties from crypto businesses since extending its oversight to the industry in 2013, with $4.68 billion of those penalties being issued in 2024. The SEC intensified its crackdown on the crypto industry in recent years, filing 30 lawsuits in 2023 and securing $150 million in settlements. This enforcement trend started before Gary Gensler became SEC chair and is part of the agency's "regulation by enforcement" approach. Gensler, who is seen as anti-crypto by some, remains in his position while the SEC continues its broad crypto crackdown, dubbed "Operation Choke Point 2.0."



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