The SEC office in Salt Lake City, which was “caught” for 1.75 million $ in a lawsuit against Debt Box miners, is closing. Was it possible? 😁. It turns out yes. Release from the US SEC website:

“The Securities and Exchange Commission announced today that it will close its Salt Lake City Regional Office (SLRO) later this year, reducing its regional presence from 11 regional offices to 10.

The SLRO has long been the SEC's smallest regional office and has recently seen significant staffing reductions. The agency considered its budget and organizational efficiency in making the decision to close the office, and has no plans to close any other regional offices. All current personnel will be assigned to existing SEC organizational components based on their current functions and the needs of the agency's mission.

The SLRO's jurisdiction in Utah will be transferred to the SEC's Denver regional office."

Let us recall that at the end of May, a US court ordered the SEC to pay 1.75 million $ for exceeding its powers in the case of the mining company Debt Box. In August 2023, the regulator accused Debt Box of cryptocurrency fraud amounting to more than $50 million. The SEC alleged that Debt Box transferred funds around the world, but it later turned out that the assets were transferred only within the United States. The SEC also tried to achieve a ban on the company's activities and block its assets. As a result, all the accusations fell apart.

The case was another nail in the coffin of the SEC’s success in regulating the crypto market.