So, if your Bitcoin investment (which has lost about 20% of its value since January 1) is leaving you a little depressed, you may be more depressed if you’re in the cryptocurrency “industry.”
A recent report from the SEC “SEC Cryptocurrency Enforcement” notes that the country’s securities regulator is not holding back on going after crypto promoters.
Down from 35 actions in 2020, the SEC filed 21 actions in 2021, consisting of going after delinquent filings, litigation and administrative proceedings.
Of the enforcement actions, 65% alleged fraud, 80% alleged an unregistered securities offering violation and 55% alleged both.
And if you think they’re just playing, as of year-end 2021, the SEC had imposed approximately $2.35 billion in total monetary penalties against digital asset market participants. Ouch.
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