The Blockchain Association has reported that the U.S. Securities and Exchange Commission (SEC) has imposed costs of approximately $400 million on the cryptocurrency industry since Gary Gensler took office as chair. This figure reflects the financial burden faced by crypto firms as they navigate regulatory challenges. The costs arise from the SEC's enforcement actions and do not account for additional expenses related to debanking and other regulatory pressures, which have also significantly impacted the industry. Some estimates indicate that the total costs incurred by the crypto sector could be even higher, with figures cited as high as $426 million.