According to CoinDesk, the U.S. Securities and Exchange Commission (SEC) Salt Lake City office will be closed due to a large loss of personnel. The office is notorious in the crypto world for the failure of the lawsuit against the crypto company DEBT Box. SEC lawyers Michael Welsh and Joseph Watkins resigned in April after being punished by a federal judge for misleading the court in the process of seeking to freeze the assets of the Utah crypto company DEBT Box. Just last week, the judge dismissed the case and ordered the SEC to pay DEBT Box $1.8 million in legal fees. The SEC said that considering budget and organizational efficiency, it decided to close the office and had no plans to close any other regional offices. The SEC's Denver office will take over any law enforcement jurisdiction.