SEC Says It Shut Down More Than a Dozen Illegal ICOs in the Past Year

The U.S. Securities and Exchange Commission (SEC) brought more than a dozen successful enforcement actions specifically related to token sales in the fiscal year that ended Sept. 30.

At least three of these sales reportedly raised more than a combined $68 million from investors before being shut down, the agency said in its annual report Friday.

To be sure, that’s just a sliver of the more than $3.945 billion in disgorgement and penalties the SEC collected during fiscal 2018. But the increase in enforcement actions surrounding initial coin offerings (ICOs) and other crypto-related startups was significant.

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