The US Securities and Exchange Commission (SEC) brought 348 enforcement actions in fiscal 2026, a 23.7% decrease from 456 the previous year.

The agency’s annual enforcement results included cases involving alleged crypto fraud and shortcomings in FTX’s audits.

In a release Tuesday, the SEC said it had charged three purported crypto trading platforms and four investment clubs in an alleged scheme that defrauded investors of at least $14 million. In a separate case, the agency accused the founder of a Bitcoin mining business of misappropriating $48.5 million after raising more than $95.6 million from about 6,400 investors.

In April, the SEC settled charges against Francis Decker, the Prager Metis partner who led FTX’s audits, concerning failures to meet professional auditing standards.

In February, a jury found Ismael Zarco Sanchez liable for securities fraud and registration violations in connection with his role in the $300 million CryptoFX Ponzi scheme. In July, a court ordered Michael Noble to pay $1.07 million in a case concerning his role in promoting BitConnect’s crypto lending program.

Fiscal 2026 was SEC Chair Paul Atkins’ first full fiscal year in office. According to a Reuters review of SEC records, the agency’s 348 enforcement actions were its fewest since 1991. Standalone actions dropped to 235 from 303 a year earlier.

Crypto enforcement had already begun to decline in 2025, when the SEC filed 13 crypto-related actions, compared with 33 in 2024, according to Cornerstone Research. Five of the 13 actions were filed before former Chair Gary Gensler left office in January 2025.

The SEC said its new enforcement analytics office was using “blockchain and financial-flow analysis” to identify potential misconduct earlier.