- Two of the Securities and Exchange Commission’s attorneys resigned after the agency was accused by a Utah court of engaging in a “gross abuse” of authority.
- In their lawsuit against Digital Licensing Inc., or the cryptocurrency platform known as Debt Box, the two ex-SEC attorneys in question claimed that their case was “marred by false statements and misrepresentations,” according to the Utah judge.
Following a Utah judge’s criticism of the U.S. Securities and Exchange Commission for a “gross abuse” of power, two lawyers from the agency recently resigned, according to Bloomberg, which cited unnamed sources.
The SEC attorneys were chastised by a federal district court judge in Utah, who declared that their case was “marred by false statements and misrepresentations.”
Cryptocurrency platform Debt Box was charged by the SEC in July “of defrauding investors of at least $49 million.” The SEC was formally criticized by the judge last month for allegedly making mistakes in assembling its case against the firm.
The SEC and cryptocurrency groups have a contentious history with the government institution. A few of the biggest cryptocurrency businesses in the United States, like Coinbase, have occasionally clashed with the financial regulator.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
