Odaily News The U.S. Securities and Exchange Commission (SEC) has shown a significant upward trend in its enforcement efforts against the cryptocurrency industry in fiscal year 2024. According to a report released by Social Capital Markets, the total amount of fines for the SEC's enforcement actions against cryptocurrency companies and executives this fiscal year has climbed to $4.7 billion, a surge of 3018% from $150.3 million in fiscal year 2023. Among them, the $4.47 billion settlement agreement reached by the SEC with Terraform Labs and its former CEO Do Kwon in June 2024 accounts for the majority, setting a record for the agency's largest single enforcement action to date. It is worth noting that despite the decrease in the number of enforcement cases in fiscal year 2024, the total amount of fines has exceeded the cumulative amount from fiscal years 2013 to 2023, highlighting the SEC's strategic shift toward high-impact cases. (Cointelegraph)