According to Odaily, the U.S. Securities and Exchange Commission's (SEC) newly appointed Acting Inspector General, Katherine Reilly, has identified cryptocurrency fraud as a primary regulatory focus. A report from her office in October 2024 revealed that cryptocurrency scams accounted for 18% of all investor complaints received by the SEC. In 2023, retail investors suffered losses amounting to $3.96 billion due to such frauds. Reilly highlighted the dual challenges faced by the SEC, including a lack of resources and a shortage of specialized personnel. She noted that the current prohibition on employees holding digital assets is hindering the recruitment of technical talent.

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