The US Securities and Exchange Commission (SEC) has intensified its crackdown on the cryptocurrency sector, including filing lawsuits against Coinbase and Binance, and has profited from its enforcement efforts. According to the annual report for the fiscal year 2022, the regulatory agency generated an income of $14.1 billion during that period, which is an increase of $1.9 from $12.2 billion in 2021.

Most of these assets had come from confiscated income in the SEC’s enforcement actions, which increased by 9% compared to the year before, as the agency brought 760 enforcement actions in 2022. Although the report did not specify how much of these assets the agency confiscated from cryptocurrency businesses, it did note that the SEC had forced the crypto exchange BlockFi to pay a $50 million penalty over “failing to register the offers and sales of its retail crypto lending products” and failing to register as an investment company.