The Number of Crypto-Related Enforcement Actions in the United States Grows
Jessie A Ellis Feb 04, 2023 11:55
Blockchain risk monitoring business Solidus Labs predicts a significant rise in US federal and state enforcement actions in 2022.
According to a study that was just recently released by Solidus Labs, a company that specialises in blockchain risk monitoring, the number of enforcement actions in the United States that were associated to cryptocurrencies had a significant increase in 2022. This was reported by the company in a study that was just recently published. The data shown here was collected from a poll that was carried out in the year 2022. It has been alleged that the corporation notified them of this. The findings of the investigation made this point quite clear. Both state and federal agencies are now in the process of establishing new standards and guidelines for themselves to use as points of reference for the way in which they carry out their respective law enforcement responsibilities.
In the year 2022, each of the four primary federal agencies in the United States that were active in crypto enforcement carried out 58 distinct actions. These actions were taken in response to various cryptographic crimes. These measures included things like warnings, arrests, and property confiscation. A total of 2,048 unique crypto criminals were hunted down as a result of these security measures. This number increased by a staggering 65 percent when compared to the previous record high of 38 activities, which was witnessed in 2021. In addition to this, it eclipsed the previous record high, which had been held by the number of activities recorded in the year 2020, which was 40. This new record broke the old record. In addition, this number is higher than the previous record high of 38 acts, which was accomplished in the year 2021.
The agencies, including the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), the Financial Crimes Enforcement Network (FinCEN), and the Office of Foreign Assets Control (OFAC), all broke their previous records, with the exception of the Financial Crimes Enforcement Network (FinCEN), which only took one action in 2022, compared to four actions in other years since 2013, when it was the only agency that took action. Other than that, the agencies all broke their previous records.
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