The US Securities and Exchange Commission (SEC) achieved a significant legal victory, securing a $1.1 million judgment against Keith Crews, an individual accused of operating a cryptocurrency fraud scheme. The ruling was made on June 3, 2025, by a federal court in Georgia after Crews failed to respond to the SEC's lawsuit filed in August 2023. Judge Tiffany Johnson's default judgment found Crews liable for disgorgement of $530,000 in net profits from alleged misconduct, along with nearly $51,000 in prejudgment interest and an additional civil penalty of $530,000. Crews, who is permanently banned from future violations of securities laws, allegedly raised over $800,000 from around 200 investors through the sale of a fraudulent crypto asset named 'Stemy Coin.' The SEC claimed Crews deceived investors with false representations about partnerships, existing products, and technological capabilities related to stem cell treatments. The case marks a rare regulatory success in crypto enforcement as the SEC grapples with ongoing scrutiny over its enforcement practices.

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