Number of initiated actions fell to the lowest level since 2017 following noted shift in enforcement priorities.

WASHINGTON, Jan. 22, 2026 /PRNewswire/ -- The number of cryptocurrency-related enforcement actions initiated by the U.S. Securities and Exchange Commission in 2025 showed a marked decline in the first year of Chair Paul Atkins' administration, according to a new Cornerstone Research report released today. The report, SEC Cryptocurrency Enforcement: 2025 Update, found that the SEC initiated only 13 actions in 2025, a 60% decline from 33 actions in 2024.

 Key Findings

• Of the 13 actions initiated in 2025, five were brought under Chair Gensler before his departure in January. Eight actions were initiated under Chair Atkins, all of which contained allegations of fraud.
• A total of 29 actions were resolved in 2025, seven of which were dismissed by the SEC under Chair Atkins.
• Monetary penalties imposed against digital-asset market participants totaled $142 million in 2025, representing less than 3% of the monetary penalties imposed in 2024.

"Enforcement actions under Chair Atkins reflect a shift in the SEC's approach to digital-asset oversight, consistent with the priorities laid out in early 2025," said Robert Letson, one of the report's authors and a principal at Cornerstone Research. "Digital asset regulation continues to evolve and is something we will be watching closely in 2026."

Read more here.

About Cornerstone Research
Cornerstone Research provides economic and financial consulting and expert testimony in all phases of complex disputes and regulatory investigations. The firm works with an extensive network of prominent academics and industry practitioners to identify the best-qualified expert for each assignment. With a reputation for high quality and effectiveness, Cornerstone Research has consistently delivered rigorous, state-of-the-art analysis since 1989. The firm has more than 1,000 professionals in nine offices across the United States, UK, and EU.

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SOURCE Cornerstone Research