LIVESEC “Deeply Regrets” Handling of Debt Box Case ❕
The United States Securities and Exchange Commision (SEC) has apologized for its handling of a lawsuit against decentralized blockchain project, Debt Box, according to new court documents.
“The Commission takes this Court’s concerns seriously and deeply regrets these errors,” a court filing from December 21st reads. “Agency officials are taking steps to ensure those errors are not repeated in this action or other proceedings.”
The SEC originally filed a lawsuit against Debt Box in July alleging the digital currency operation defrauded thousands of investors out of nearly $50 million through the sale of unregistered securities
Previously, the federal watchdog was granted a temporary restraining order against Debt Box after claiming the organization was dodging legal actions by moving assets abroad. However, the order was rescinded in October after the court found the SEC had insufficient evidence to back up its claims.
