SEC Apologizes for Freezing Crypto Firm Assets with False Claims
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- SEC apologizes for misleading judge to freeze crypto firm assets based on inaccurate claims.
- Judge scolds agency for potentially undermining case integrity with false statements.
- DEBT Box, the accused firm, challenged the SEC’s accusations and exposed factual errors.
On Thursday, attorneys representing the Securities and Exchange Commission (SEC) apologized to U.S. District Judge Robert Shelby. The apology comes in response to the SEC’s admission of misrepresenting facts to obtain a restraining order and asset freeze against crypto firm Digital Licensing Inc., also known as DEBT Box.
In a filing submitted to the U.S. District Court of Utah, the SEC attorneys acknowledged the error, stating, “The commission deeply regrets these orders.” They also committed to organizing mandatory training sessions for staff members who played a role in the investigation.
The controversy arose from the SEC’s litigation against DEBT Box in July, where the regulatory body alleged that the crypto firm had defrauded investors of nearly $50 million. The regulator sought a temporary restraining order and asset seizure against the firm and its directors. Part of the arguments it te…
The post SEC Apologizes for Freezing Crypto Firm Assets with False Claims appeared first on Coin Edition.
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