Titanium Blockchain CEO behind BARs ICO fraud, put behind bars for 4 years

The California-based CEO of Titanium Blockchain has been

SEC ramps up enforcement

The SEC has been ramping up actions against the cryptocurrency space in recent years.

According to Cornerstone Research, the number of cryptocurrency-related litigations brought by the SEC grew in 2022, with 30 enforcement actions against digital-asset market participants in the year, up 50% from the 20 actions in 2021.

The report found that cryptocurrency enforcement continues to be a high priority for the SEC under Chair Gary Gensler. In 2022, the agency initiated 30 cryptocurrency-related enforcement actions, a 50% increase from 2021. https://t.co/TAzXIR7Kjt

— Cornerstone Research (@Cornerstone_Res) January 18, 2023

Of the 30 total enforcement actions in 2022, 14 involved initial coin offerings (ICOs), with more than half of these including a fraud allegation.

“Based on its implementation of the U.S. Supreme Court’s Howey test, the SEC continues to pursue actions alleging that tokens issued in ICO-related unregistered securities offerings were investment contracts subject to SEC regulation and enforcement,” said Abe Chernin, vice president of Cornerstone Research and co-head of its FinTech practice.

“We have observed an increase in assistance to the SEC from outside agencies and organizations during crypto-related investigations under the Gensler administration,” he added.

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