The US SEC has acknowledged that some cryptocurrency enforcement cases have not benefited investors.

CoinFeed reported on April 8th, citing Cointelegraph, that the U.S. Securities and Exchange Commission (SEC) stated on Tuesday that some past enforcement actions against cryptocurrency companies lacked a clear understanding of investor interests and misinterpreted federal securities laws. Since fiscal year 2022, the SEC has initiated 95 actions related to "bookkeeping and record violations," resulting in total fines of $2.3 billion. The SEC noted that these cases, along with seven cases related to cryptocurrency company registration and six "dealer definition" cases, did not find any direct harm to investors or generate any investor interests or protections. The SEC acknowledged that this reflects a problem of "prioritizing the number of cases over investor protection," a misallocation of resources, and a misunderstanding of federal securities laws.