The US Securities and Exchange Commission's (SEC) legal battles against cryptocurrency companies are being compared to the battle of Godzilla and King Kong, as the industry reaches a market size of $2.5 trillion. The SEC continues to open new fronts in its war against cryptocurrencies, leading some to question whether the agency has the legal resources to handle so many cases simultaneously.

By the end of 2023, the SEC's fines against crypto-related firms and individuals totaled $2.89 billion. Last year, the SEC initiated a total of 46 crypto-related enforcement actions, representing a 53% increase from 2022.

In 2024, the SEC quickly issued Wells notices to DeFi giant Uniswap and stock and crypto broker Robinhood. Both companies have committed to fighting the agency.

The SEC requested a budget of $2.6 billion for fiscal year 2025. $800 million of this budget was allocated to the sanctions department.

How effective do you think the SEC's harsh stance against the cryptocurrency industry will be before the next elections? Share your comments with us.#SEC#Cryptocurrency #Sanctions