In a significant legal setback, the U.S. Securities and Exchange Commission (SEC) has been ordered to pay $1.8 million after a federal judge cited “bad faith conduct” in its temporary restraining order to freeze DEBT Box’s assets. This ruling has prompted the SEC to announce the closure of its Salt Lake Regional Office in 2024.
The closure decision, detailed in a June 4 notice from the SEC, highlights the commission's plan to consolidate its operations into its Denver office, citing “significant attrition” at the Salt Lake City location. This move follows Judge Robert Shelby’s dismissal of the SEC’s civil lawsuit against Digital Licensing, known as DEBT Box, and his mandate for the SEC to cover approximately $1 million in attorney fees and costs, along with $750,000 in receiver fees and costs.
Initially filed in July 2023, the SEC
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First found on: Crypto news from Coinatory
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