The SEC initiated 784 enforcement actions in fiscal year 2023, with fines totaling nearly $5 billion

ChainCatcher News, the U.S. Securities and Exchange Commission (SEC) announced the enforcement results for fiscal year 2023, with a total of 784 enforcement actions, a 3% increase year-over-year, resulting in $4.949 billion in penalties, marking the second-highest record in history.

In terms of cryptocurrency, the SEC's enforcement actions include multi-billion dollar crypto fraud schemes, unregistered crypto asset products, platforms, and intermediaries, as well as illegal celebrity endorsements. The lawsuits involve charges against Terraform Labs and its founder Do Kwon; charges against Richard Heart and the three entities he controls: Hex, PulseChain, and PulseX; and charges against FTX CEO SBF and other FTX executives, among others.