Calendar year 2025, which marks the initial phase of Paul Atkins’s tenure as Chair of the U.S. Securities and Exchange Commission (SEC), saw a decline in cryptocurrency enforcement by the SEC.
After bringing a total of 33 cryptocurrency-related actions in 2024, the SEC initiated only 13 actions in 2025. This 60% decrease reflects a shift in enforcement priorities. Five of the 13 actions were brought under Chair Gary Gensler, prior to his departure in January.
Monetary penalties imposed in 2025 against digital-asset market participants totaled $142 million, representing less than 3% of the monetary penalties imposed in 2024.
Initial Enforcement Activity by Administration
Number of Enforcement Actions
Allegations
Chicago 
