The Blockchain Association and Coinbase spotlight SEC and FDIC actions, revealing significant financial burdens on crypto firms.
The Blockchain Association (BA), a cryptocurrency and blockchain advocacy group, said that the United States Securities and Exchange Commission (SEC) has cost companies more than $425 million in digital asset litigation.
In an Oct. 31 update to the BA “regulation by enforcement” page, the group reported that the SEC had filed 104 cases against the crypto industry between 2021 and 2023.
According to the association, self-reported by BA member companies — a “small slice of the industry” — about $426 million had been spent in “defensive litigation” against the SEC.
