TechFlow News, April 8: According to an announcement on the U.S. Securities and Exchange Commission (SEC) official website, the SEC has made significant adjustments to its enforcement strategy in the digital asset sector for fiscal year 2025. Starting in February 2025, the SEC has successively withdrawn seven cryptocurrency-related enforcement actions initiated by the prior commission—cases involving Coinbase, Binance, Kraken, Cumberland DRW, Consensys, Dragonchain, and Balina—citing insufficient basis under federal securities laws.
Meanwhile, the SEC has established a Cyber and Emerging Technologies Division, dedicated to combating securities violations involving blockchain technology, artificial intelligence, and cybersecurity. In specific enforcement actions, the SEC has filed lawsuits against the following cases: Unicoin, a New York-based cryptocurrency company, and its four executives, accused of making false statements that misled investors; Ramil Palafox, founder of PGI Global, accused of orchestrating a $198 million cryptocurrency and foreign exchange fraud scheme and misappropriating over $57 million; and the founder of AI company Nate, Inc., accused of illegally raising over $42 million through false claims about the company’s artificial intelligence capabilities.
