Terraform Labs’ settlement: The nearly 4.5 billion USD settlement between Terraform Labs and SEC significantly contributed to the record financial penalty total of SEC in 2024. This case involved allegations of fraud and the collapse of Terraform Labs’ blockchain ecosystem. This result indicates that SEC is intensifying law enforcement in the tech sector.

Largest total fines: SEC confirmed a total financial penalty of 8.2 billion USD for 2024, marking a new milestone in the agency’s history. This is evidence of SEC’s determination to protect investors and maintain order in the U.S. financial market. Although enforcement cases decreased, the total fines significantly increased.

Changes in the crypto industry: Under Gary Gensler’s leadership, SEC maintained a firm stance on the crypto industry, even though the number of lawsuits dropped to 11 compared to 46 the previous year. This simultaneously pushed up fines from industry lawsuits. The administrative transition in 2024 may bring more lenient crypto regulations as President Donald Trump takes office.

Prospective policy changes: With Donald Trump set to take office and Gary Gensler’s departure, the crypto industry hopes for less stringent regulations. Current SEC lawsuits might decrease as Katrina Paglia of Pantera Capital predicts changes in enforcement practices.