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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.
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.
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.
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.
Un juez federal en Utah critica a la SEC por abuso de autoridad en una demanda contra la empresa de criptomonedas con sede en Utah, DEBT Box, y ordena a la SEC pagar los honorarios y costas de los abogados.