Cryptocurrency News Today TheBitTimes.com

The Securities and Exchange Commission (SEC) has secured $4.7 billion in crypto-related enforcement actions in 2024, marking a staggering 3,018% increase from last year, according to Social Capital Markets . This surge was largely driven by the agency’s record-breaking $4.47 billion settlement with Terraform Labs and its former CEO, Do Kwon, in June. That was the SEC’s “largest enforcement action to date,” according to a Sept. 9 report from Social Capital Markets, SEC Targets Higher Profile Cases The total amount comprises forfeiture, civil penalties, settlement, disgorgement, and pre-judgment interest. Although the collective dollar amount of the regulator’s enforcement actions has spiked 3,018% in the last year, there has been a drop in the number of cases the SEC pursued. Only 11 enforcement actions were initiated against crypto firms by the SEC this year, which is 19 fewer actions compared to last year. “This trend indicates a strategic shi...

Crypto firms’ policies on coin listing and delisting must align with a list of standards set by the NYDFS. Guidelines for firms listing and de listing crypto currencies in New York have tightened up to better protect investors, according to the state’s financial regulator . The New York State Department of Financial Services (NYDFS) unveiled new restrictions on Nov. 15 which mandate crypto companies submit their coin listing and delisting policies for NYDFS approval. Company policies will be measured against more stringent risk assessment standards set forth by the NYDFS to protect investors. Technological, operational, cybersecurity, market, liquidity and illicit activity risks of the tokens are among the factors to be considered by the NYDFS. The incoming changes apply to all digital currency business entities licensed under the New York Codes, Rules and Regulation or limited purpose trust companies under the state’s Banking Law. The NYDFS initially called for public feedback on t...