The U.S. Securities and Exchange Commission wants an extra $158 million to address the “Wild West of the crypto markets.”
A United States district court has imposed sanctions on the Securities and Exchange Commission (SEC) for acting in “bad faith” in its lawsuit against Debt Box.
The SEC initially filed a motion to dismiss without prejudice, but that was denied by Judge Robert Shelby, who slammed the regulator for intentionally lying to the court about evidence it obtained to secure a temporary restraining order and freeze Debt Box’s assets in August 2023.
The “critical evidence” the SEC offered to have obtained “lacked any basis,” which was nonetheless advanced in “deliberately false and misleading ways,” Shelby explained.
