Gary Gensler: The SEC has conducted more than 780 enforcement actions in 23 years, with a total amount of judgment exceeding US$5 billion.

U.S. SEC Chairman Gary Gensler said before his speech at the Securities Enforcement Forum that the SEC has conducted more than 780 enforcement actions in 23 years, and the total amount of judgments exceeded US$5 billion, of which US$930 million was allocated to injured investors. Gensler said that since December 2021, the SEC has filed lawsuits against 40 companies, accusing them of violating various rules and regulations, issuing more than $1.5 billion in fines. Regarding the crypto industry, Gensler said: “Don’t get me started on crypto. I won’t even name all the people we prosecuted in this highly non-compliant space.” Gensler went on to compare the current crypto ecosystem to the 20 The situation in the financial sector in the 1920s was before securities regulations were introduced. Gensler said that the crypto ecosystem is facing the same situation as the financial sector before clear regulations were introduced, resulting in multiple incidents of fraud, scams and bankruptcies. (Cointelegraph)