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U.S. Regulators’ Crypto Enforcement Nearly Doubled in 2022, Solidus Labs Analysis Shows

The analysis sheds light on how fast enforcement against crypto firms is accelerating on both the state and federal level

NEW YORK , NY / ACCESSWIRE / January 31, 2023 / Solidus Labs, a category-definer for crypto market integrity and risk monitoring, published its Crypto Enforcement Analysis today, highlighting the record-breaking levels of crypto enforcement action taken by both federal and state regulators in the United States. The report provides an analysis of key trends in crypto enforcement action, examines which agencies are most active and why, breaks down key cases like SEC vs. LBRY, CFTC vs. MNGO Markets and SEC vs. Ripple, and more.

Key Takeaways in the Report Include:

  • The CFTC's crypto enforcement pace accelerated by 73% year-on-year, the fastest of any federal regulator.
  • The SEC announced 30 crypto-related enforcement actions in 2022, more than any other regulator worldwide.
  • Since 2013, federal agencies have imposed a combined $3.6 billion in fines against crypto market participants, over $2.5 billion of which has come from the SEC.
  • Regulators in 24 US states and the District of Columbia broke crypto enforcement records last year; 16 of these announced their first crypto actions ever with Texas and Alabama setting the bar with six cases each.

"Regulators at the federal and state levels have made it clear that they will take enforcement action where digital asset actors abuse markets and flout the law," says Kathy Kraninger, Vice President of Regulatory Affairs at Solidus Labs who formerly served as Director of the U.S. Consumer Financial Protection Bureau. "At the same time, many in the digital asset community have made significant investments in compliance and repeatedly outlined areas that need more regulatory clarity. This dichotomy creates a challenging environment for good actors who want to innovate and grow, but we are confident that even with enforcement picking up, regulation will follow."

"Looking ahead to 2023, I expect discussions among lawmakers to intensify and hopefully focus on the key issues needed for clearer regulatory frameworks," Kraninger added. "At the same time, the drumbeat of enforcement action will likely accelerate."

The report is available here. For more about Solidus Labs, visit soliduslabs.com.

About Solidus Labs

Solidus Labs is the category-definer for crypto-native triple T (3T) market integrity solutions - trade surveillance, transaction monitoring, and threat intelligence. Our mission is to enable safe crypto trading throughout the investment journey across all centralized and DeFi markets. As the founder of industry-leading initiatives like the Crypto Market Integrity Coalition and DACOM Summit, and in everything we do, Solidus is deeply committed to ushering in the financial markets of tomorrow. Crypto exchanges, financial institutions and regulators globally rely on Solidus HALO - our real-time, comprehensive, testable, and future-proof platform. Safeguarding their business from known forms of market abuse and a plethora of emerging crypto-specific risks, we enable our clients to grow faster - and safer. To learn more, please visit: https://soliduslabs.com.

Media Contact

Trevor Davis
Gregory FCA for Solidus Labs
443.248.0359 | trevor@gregoryfca.com

SOURCE: Solidus Labs



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https://www.accesswire.com/737337/US-Regulators-Crypto-Enforcement-Nearly-Doubled-in-2022-Solidus-Labs-Analysis-Shows

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