Connect with us

Technology

SEC Enforcement of Cryptocurrency Dropped 30% in the Last Year of the Gensler Administration

Published

on

Enforcement during Gensler administration was considerably higher than during the previous administration

WASHINGTON, Jan. 23, 2025 /PRNewswire-PRWeb/ — The Securities and Exchange Commission (SEC) brought 33 cryptocurrency-related enforcement actions in 2024, the last year of the Chair Gary Gensler’s administration, according to a Cornerstone Research report released today. This number is 30% lower than the high reached in 2023 and marks the first year-over-year decline since 2021.

The report, SEC Cryptocurrency Enforcement: 2024 Update, found that, of the 33 enforcement actions, half were brought in September and October, ahead of the presidential election in early November. The SEC brought 25 litigations in U.S. district courts and eight administrative proceedings in 2024. Compared to 2023, the number of litigations slightly decreased, while administrative proceedings declined by more than 50%. Monetary penalties imposed reached a record high of $4.98 billion, largely attributable to one multi-billion-dollar settlement.

“The SEC has continued to focus on its implementation of the Howey test,” said Abe Chernin, a Cornerstone Research vice president and cohead of the firm’s FinTech practice. “In 2024, the SEC also concentrated on enforcement actions alleging market manipulation or failures to register as a broker-dealer.”

The report also compares the Gensler administration to that of Jay Clayton, the SEC chair during the first Trump administration (May 4, 2017–December 23, 2020). Under Chair Gensler (April 17, 2021–December 31, 2024), the SEC initiated 125 cryptocurrency-related enforcement actions, compared to 70 under Chair Clayton. Of those, Chair Gensler resolved 98 while Chair Clayton resolved 50. The Gensler administration imposed $6.05 billion in monetary penalties, nearly four times the $1.52 billion imposed under Chair Clayton.

“Despite the drop in number of enforcement actions in 2024, cryptocurrency remained a top priority during Chair Gensler’s final year,” said Simona Mola, the report’s author and a principal at Cornerstone Research. “Since 2018, cryptocurrency has represented, on average, approximately 6% of the SEC’s overall enforcement efforts in terms of actions initiated. We will be watching how enforcement may change in 2025, in light of the SEC’s recently announced crypto task force.”

The analysis further found that 66% of all enforcement actions brought under Chair Gensler contained allegations of fraud, compared to 54% of actions brought under Chair Clayton. Conversely, 71% of Clayton administration actions contained unregistered securities offering violations, compared to 63% during the Gensler administration.

Additional Highlights

Of all 2024 cryptocurrency-related SEC actions, 73% alleged fraud, while 58% alleged an unregistered securities offering violation, and 39% alleged both.Fourteen actions alleged market manipulation or failure to register as a broker-dealer, an increase compared to prior years.Eight enforcement actions were related to initial coin offerings (ICOs), and one was related to nonfungible tokens (NFTs).The SEC charged 90 defendants—57 individuals and 33 firms—in 2024 enforcement actions. Approximately 21% of actions were against individuals only, down from 36% in 2023.The SEC continued to recognize self-reporting, cooperation, or remedial efforts of five of the nine respondents charged in administrative proceedings. In one administrative proceeding, the SEC imposed no monetary penalties because of remedial efforts and cooperation.Since 2013, when the SEC brought its first cryptocurrency-related enforcement action, through 2024, the SEC brought 207 enforcement actions, including 135 litigations and 72 administrative proceedings. Of the 207 actions brought since 2013, 47% have been related to ICOs.

Cornerstone Research’s Cryptocurrency Enforcement Database contains cryptocurrency-related enforcement actions brought by the SEC between January 1, 2013, and December 31, 2024.

About Cornerstone Research
Cornerstone Research provides economic and financial consulting and expert testimony in all phases of complex disputes and regulatory investigations. The firm works with an extensive network of prominent academics and industry practitioners to identify the best-qualified expert for each assignment. With a reputation for high quality and effectiveness, Cornerstone Research has consistently delivered rigorous, state-of-the-art analysis since 1989. The firm has more than 1,000 professionals in nine offices across the United States, UK, and EU.

Media Contact

Elisabeth Gaubinger, Cornerstone Research, 202.912.8909, egaubinger@cornerstone.com, https://www.cornerstone.com/

View original content to download multimedia:https://www.prweb.com/releases/sec-enforcement-of-cryptocurrency-dropped-30-in-the-last-year-of-the-gensler-administration-302358147.html

SOURCE Cornerstone Research

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Achieve named to Az Business Magazine’s ’10 Best Places for Women to Work in Arizona’ for 2026

Published

on

By

Recognition highlights the company’s commitment to creating opportunities for women to grow and lead

SAN MATEO, Calif., July 23, 2026 /PRNewswire/ — Achieve, the leader in digital personal finance, has been named among the 2026 10 Best Places for Women to Work in Arizona by Az Business Magazine. The annual recognition highlights organizations that create supportive environments where women can thrive professionally, advance into leadership roles and build meaningful careers.

The honor reflects Achieve’s ongoing investment in workplace programs that support employee growth, flexibility, leadership development and career advancement. Women serve in leadership roles across the organization and play a critical role in shaping the company’s culture, products and long-term success.

“Creating an environment where women can grow, lead and build rewarding careers is central to who we are as a company,” said Achieve Senior Vice President of Human Resources Heather Marcom. “We’re honored to be recognized among Arizona’s top workplaces for women and remain committed to fostering a culture where employees feel supported, valued and empowered to do their best work.”

Achieve maintains a major corporate presence in the Phoenix area, where hundreds of employees contribute to the company’s mission of helping people move from struggling to thriving financially. The company supports employees through leadership development opportunities, employee resource groups, mentorship and learning programs designed to help team members reach their professional goals.

The recognition adds to a growing list of workplace honors for Achieve. Earlier this year, the company was named among the Top 3 Best Workplaces for LGBTQ+ Employees by BestCompaniesAZ and was also recognized by AZ Big Media as one of Arizona’s Most Admired Companies.

“Strong organizations are built by diverse perspectives and inclusive leadership,” said Marcom. “We’re proud of the talented women across Achieve who help drive our business forward every day and grateful for the impact they make on our employees, customers and communities.”

The 10 Best Places for Women to Work in Arizona list is determined through a public voting process conducted by AZ Big Media and published in Az Business magazine.

About Achieve

Achieve, THE digital personal finance company, helps everyday people get on, and stay on, the path to a better financial future. Achieve pairs proprietary data and analytics with personalized support to offer personal loanshome equity loans, debt relief and debt consolidation, along with financial tips and education and free mobile apps: Achieve MoLO® (Money Left Over) and Achieve GOOD™ (Get Out Of Debt). Achieve is frequently recognized for providing top-rated customer experience and satisfaction by both consumers and leading personal finance review platforms and has 2,200 dedicated teammates across the country, with hubs in Arizona, California, Florida and Texas.

Achieve refers to the global organization and may denote one or more affiliates of Achieve Company, including Achieve.com, Equal Housing Opportunity (NMLS ID #138464); Achieve Home Loans, Equal Housing Opportunity (NMLS ID #1810501); Achieve Personal Loans (NMLS ID #227977); Freedom Debt Relief (NMLS ID # 1248929); and Freedom Financial Asset Management (CRD #170229).

Contacts

Austin Kilgore
akilgore@achieve.com
214-908-5097

Elina Tarkazikis
etarkazikis@achieve.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/achieve-named-to-az-business-magazines-10-best-places-for-women-to-work-in-arizona-for-2026-302833720.html

SOURCE Achieve

Continue Reading

Technology

National Press Club Statement on the withdrawal of subpoenas targeting New York Times journalists

Published

on

By

WASHINGTON, July 23, 2026 /PRNewswire/ — National Press Club President Mark Schoeff Jr. released the following statement:

“The Justice Department’s decision to withdraw subpoenas targeting journalists at The New York Times is a welcome and necessary step to protect the public’s constitutional right to an independent press.

These subpoenas should never have been issued in the first place. Compelling journalists to reveal confidential sources sends a chilling message to those who seek to inform the public and threatens the very foundation of press freedom.

Every American should understand what is at stake when the government turns its investigative powers on journalists. It is not routine. It is an extraordinary intrusion that strikes at the heart of the First Amendment and your right to information about your government.

The greatest danger was not the subpoenas themselves, but the message they sent: That sources could be exposed, that whistleblowers should remain silent, and that the American people might know less about the actions of their own government.

A strong democracy depends on a press that can report freely, hold power to account, and inform the public without intimidation.

We urge continued vigilance to ensure that journalists can do their jobs without interference and that protections for source confidentiality are upheld consistently.”

About the National Press Club

Founded in 1908, the National Press Club is the world’s leading professional organization for journalists and a leading voice for press freedom in the U.S. and worldwide.

Contact: Beth Francesco, Executive Director of the National Press Club Journalism Institute, media@press.org

View original content to download multimedia:https://www.prnewswire.com/news-releases/national-press-club-statement-on-the-withdrawal-of-subpoenas-targeting-new-york-times-journalists-302833722.html

SOURCE National Press Club

Continue Reading

Technology

NCC Launches NCC Connect™ to Put Credit, Fraud, and Compliance Inside the CRM Dealers Already Use

Published

on

By

A powerful new solution that embeds credit access, fraud detection, and compliance directly into the dealership’s existing CRM — removing the system-switching that slows deals and exposes dealers to risk.

AUSTIN, Texas, July 23, 2026 /PRNewswire-PRWeb/ — NCC, a leading provider of credit and compliance solutions for automotive dealerships, today announced the launch of NCC Connect™, a powerful platform that runs credit, fraud, and compliance from inside the CRM a dealership already uses — without friction or duplicate entry.

“Dealers don’t need another system to log into,” said Brian Skutta, President and CEO of NCC. “They need the tools they already have to work better together. NCC Connect puts credit, fraud detection, and compliance right where the team already works — inside the CRM they use every day.”

“Dealers don’t need another system to log into,” said Brian Skutta, President and CEO of NCC. “They need the tools they already have to work better together. NCC Connect puts credit, fraud detection, and compliance right where the team already works — inside the CRM they use every day.”

As deals grow more complex and fraud more sophisticated, dealers are juggling more disconnected systems than ever — the CRM, the credit system, the compliance tools — switching between them on every transaction. Each switch breaks momentum, invites a skipped step, and slows the path to funding. NCC Connect meets this moment with a single, seamless solution that keeps the full credit, fraud, and compliance engine right where the team already works.

Why NCC Connect Matters Right Now

Dealers lose time and margin switching between the CRM, credit, and compliance systems on every dealAuto lending fraud continues to climb, with industry fraud exposure reaching a record $10.4 billion in 2025, according to Point Predictive’s 2026 Auto Lending Fraud Trends ReportState compliance is tightening, with laws like California’s SB 766 (CARS Act) taking effect October 1, 2026Every disconnected step is another chance for an error, a delay, or a deal that stalls before funding

These pressures are forcing dealers to consolidate, and NCC Connect delivers the edge.

Product Highlights:

Inside the CRM — Soft-pull and hard credit access from all three major bureaus — Experian, TransUnion, and Equifax — without leaving the workflowFraud & Identity Built In — Identity verification and synthetic fraud detection delivered within the credit pull, flagging Red Flag conditions before the deal moves to fundingCompliance on Autopilot — FCRA and FTC controls with automatic, audit-ready documentation stored in the deal record99.99% Uptime — The industry’s highest, so the platform is there when a deal is on the desk

NCC Connect runs soft-pull pre-qualifications and hard credit pulls from any bureau or score model without leaving the CRM, while customer data stays inside the existing CRM structure. Every credit, fraud, and compliance result is captured on the deal record — giving dealers a single, audit-ready source of truth and a faster, cleaner path to funding.

NCC Connect extends the same powerful, credit-first engine behind NCC’s Complete Credit™ platform into the CRM where dealers already work. For dealers, that means more approvals, stronger fraud protection, and faster funding, without changing how the team works.

Learn more about NCC Connect at https://nccdirect.com/ncc-connect/

About NCC:

With offices in Austin, TX, Bettendorf, IA, and Las Vegas, NV, NCC has been a trusted partner in credit-driven retailing for automotive dealerships for nearly three decades. We combine a powerful credit and compliance engine with a fully integrated Desking platform to drive maximum profitability. Our focus on innovation, user-friendly products, and dependable systems — supported by a dedicated account management team — has solidified our reputation as a leader in the industry. www.nccdirect.com

Media Contact

Holly Smith, NCC, 1 8285732722, hsmith@nccdirect.com, https://nccdirect.com/

View original content:https://www.prweb.com/releases/ncc-launches-ncc-connect-to-put-credit-fraud-and-compliance-inside-the-crm-dealers-already-use-302832007.html

SOURCE NCC

Continue Reading

Trending