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flag Federal judge in Utah criticizes SEC for abusing authority in lawsuit against Utah-based cryptocurrency firm, DEBT Box, and orders SEC to pay attorney's fees and costs.

flag A federal judge in Utah has criticized the US Securities and Exchange Commission (SEC) for abusing its authority in a lawsuit against Utah-based cryptocurrency firm, DEBT Box. flag Judge Robert Shelby ordered the SEC to pay DEBT Box's attorney's fees and costs related to a restraining order, stating the SEC's conduct constituted a "gross abuse of the power entrusted to it by Congress" and substantially undermined the integrity of the proceedings. flag The SEC had accused DEBT Box of defrauding investors of at least $49 million, but the judge found that the SEC may have made "materially false and misleading representations" in the process.

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