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US SEC's Cryptocurrency-Related Enforcement Actions Surge After FTX Crash

The US Securities and Exchange Commission (SEC) has seen a significant increase in cryptocurrency-related enforcement actions in the six months following the collapse of FTX, according to an analysis of SEC announcements and news stories. The regulatory body took around six enforcement actions in the six months before FTX's demise, but this number rose to at least 17 in the six months after the exchange's bankruptcy.

Some analysts believe that the current enforcement actions against Binance and Coinbase are an attempt by the SEC to make up for its failure to regulate FTX. Republican Representative French Hill has called the current crackdown a "cover your ass" maneuver by the regulator and SEC chief Gary Gensler.

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