The media is focused on SEC actions against crypto, but ignores them against banks

Every single enforcement action that the SEC does related to crypto makes the news. Yes, there are some big names in the entertainment industry involved with crypto scams, but even Richard Hart (not his real name) made the news when action was taken against him. Very few people outside of crypto know who he is.

The media ignores when the SEC takes action against big banks.

Just last week the SEC took action against Citi Group and I did not hear a single thing about it in the media

As a result of the conduct described above, CGMI willfully2 violated the recordkeeping requirements of Section 17(a) of the Exchange Act and Rule 17a-3 thereunder, which require broker-dealers to make and keep current certain books and records, including “[l]edgers (or other records) reflecting all assets and liabilities, income and expense and capital accounts” (paragraph (a)(2) of Rule 17a-3).

Yes, it is boring stuff regarding record keeping, but so is the crypto stuff if it did not include the words “crypto”.

Right now crypto is a buzzword that will get people to click articles so the media runs with anything related to crypto. Most of this stuff makes crypto look bad. When banks do the same things, the media often overlooks it.

https://www.sec.gov/files/litigation/admin/2023/34-98238.pdf