Bitcoin

<ul>
 <li>Last year, the SEC filed a lawsuit against DEBT Box, alleging a fraud scheme.</li>
 <li>Last month, the SEC announced its intention to dismiss the action without prejudice.</li>
</ul>
The U.S Securities and Exchange Commission moved last month to dismiss DEBT Box’s lawsuit after the agency confessed making false claims in court. DEBT Box requested the judge to reject this motion. Last year, the <a href="https://thenewscrypto.com/sec-chair-gary-gensler-proposes-whopping-2-4-billion-budget/" rel="noopener noreferrer nofollow">SEC</a> filed a lawsuit against Digital Licensing Inc., which operates under the name <a href="https://thenewscrypto.com/u-s-senators-censure-sec-chair-over-handling-of-debt-box-case/" rel="noopener noreferrer nofollow">DEBT Box</a>, alleging a fraud scheme.
<blockquote class="wp-block-quote">
 DEBT Box said in a filing on Wednesday: “The SEC wants a double standard–it wants to be treated differently before federal courts than those that it regulates or attempts to regulate. When an individual or entity is suspected of making materially false and misleading statements in the securities market, the SEC brings charges under the anti-fraud provisions of the federal securities laws and seeks the heaviest monetary and non-monetary sanctions that it believes it can obtain in court.”
</blockquote>
<h3 class="wp-block-heading" id="h-erroneous-assertions">Erroneous Assertions</h3>
In response to DEBT Box’s criticism, the SEC acknowledged in late December that it had made erroneous assertions. Judge <a href="https://en.wikipedia.org/wiki/Robert_J._Shelby" target="_blank" rel="noopener noreferrer nofollow">Robert Shelby</a> of the Utah U.S. District Court slammed the SEC’s legal team and demanded an explanation for the agency’s “false or misleading” claims on the company’s attempted asset transfers abroad to evade regulator oversight. Last month, the SEC announced its intention to dismiss the action “without prejudice,” which means the agency has the option to refile its case. At a prior hearing, the SEC admitted that it “fell short” of the court’s expectations of candor and accuracy, made false statements, did not rectify its mistakes. As part of its efforts to fix its errors, the SEC said it appointed senior lawyers from its Denver Regional Office to oversee the matter moving forward.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/tron-unveils-ambitious-plans-for-bitcoin-layer-2-integration/" target="_blank" rel="noopener noreferrer nofollow">Tron Unveils Ambitious Plans For Bitcoin Layer 2 Integration</a>

U.S SEC Faces Backlash as DEBT Box Challenges Case Dismissal

Table of Contents

TheNewsCrypto

Other articles published on Feb 15, 2024

Bitcoin daily chart signals massive BTC sell-off alert

Economist Alex Krüger Says Ethereum Rival With ‘Absolutely Massive’ Ecosystem Is Underpriced Rela...

Bitcoin Clashes with Resistance as Altcoins Eye New Peaks

Ethereum and Polygon bullish; eyes on Pullix presale

XRP Experiences Significant Surge in Trading Activity

JPMorgan Issues a Statement on Tether (USDT), Again Infuriating the Cryptocurrency World

Join our free newsletter for daily crypto updates!