The Blockchain Association (BA), a cryptocurrency and blockchain advocacy organization, said the U.S. SEC has cost several companies more than $425 million in digital asset lawsuits.
In a recent update to the BA's "Enforcement and Supervision" page, the organization reported that the SEC filed 104 lawsuits against the crypto industry between 2021 and 2023. BA member companies (which account for only a "small part" of the industry) have reported that they have spent about $426 million in "defensive lawsuits" against the SEC.
BA said the crypto industry and "American voters" are ready for change and called for "changes in SEC leadership" to end the "legal war" against the industry. (Cointelegraph)
Earlier, Coinbase found that the FDIC urged banks to suspend or avoid providing crypto-related services in more than 20 cases.