The US Securities and Exchange Commission (SEC) released its annual enforcement results on Tuesday: 348 actions in fiscal 2026, down 23.7% from 456 a year earlier. It was Chair Paul Atkins' first full fiscal year in office, and crypto cases stayed on the docket.
The fiscal 2026 numbers
Metric | Fiscal 2026 | Fiscal 2025 |
|---|---|---|
Total enforcement actions | 348 | 456 |
Standalone actions | 235 | 303 |
Change in total | -23.7% | - |
Standalone actions fell by 68 year over year and the total by 108. Atkins' predecessor, Gary Gensler, left office in January 2025.
New crypto cases
The SEC singled out two new digital asset matters in its release:
- Three purported crypto trading platforms and four investment clubs charged over a scheme that allegedly defrauded investors of at least $14M
- The founder of a Bitcoin mining business accused of misappropriating $48.5M after raising more than $95.6M from about 6,400 investors
Older cases resolved in fiscal 2026
The report also covers three crypto cases that reached a verdict, court order or settlement during the year:
Person | Case | Outcome |
|---|---|---|
Francis Decker | Prager Metis partner who led FTX's audits | Settled charges with the SEC in April over failures to meet professional auditing standards |
Ismael Zarco Sanchez | $300M CryptoFX Ponzi scheme | Found liable by a jury in February for securities fraud and registration violations |
Michael Noble | Promoting BitConnect's crypto lending program | Ordered by a court in July to pay $1.07M |
The decline started in 2025
According to Cornerstone Research, the SEC filed 13 crypto-related actions in 2025, down from 33 in 2024. Five of the 13 were filed before Gensler left office.
What it means for you
The crypto cases in the fiscal 2026 report cover trading platforms, investment clubs, a Bitcoin mining offering, a lending program promoter and the FTX auditor. The lower overall count did not remove the sector from the SEC's annual results.
The agency said its new enforcement analytics office is using "blockchain and financial-flow analysis" to detect potential misconduct earlier.