The U.S. Securities and Exchange Commission (SEC) brought a record number of crypto-related enforcement actions last year, up 50% as compared to 2021, per a report released by consulting firm Cornerstone Research.

The report found that over the course of 2022, the SEC brought a total of 24 litigation actions in U.S. federal courts and six administrative proceedings. The number of litigations increased from 14 cases registered the previous year.

Based in San Francisco, Cornerstone Research is a litigation consulting firm providing financial analysis and expert testimony to attorneys, corporations, and government agencies. The firm’s database contains cryptocurrency-related enforcement actions brought by the SEC between January 1, 2013, and December 31, 2022.

Of the 30 total enforcement actions, 14 involved Initial Coin Offerings (ICOs), with 57% of these actions including a fraud allegation.

(By Andrew Asmakov)