SEC Sanction Decision Against DEBT Box Lawsuit

In the USA, a sanction decision was taken against the Securities and Exchange Commission (SEC), which filed a lawsuit against Utah-based cryptocurrency company DEBT Box. Judge Robert Shelby stated that the SEC displayed "observable bad faith conduct" during the litigation.

- DEBT Box was accused of defrauding investors with the sale of approximately $50 million in unregistered securities in July.

- Judge Shelby stated that the SEC initially obtained a temporary property freezing order based on inaccurate information and then submitted new false information to the court.

- The enforcement order requires the SEC to cover DEBT Box's attorneys' fees and costs related to the property freezing order.

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