Millions of Dollar Fine to SEC in Cryptocurrency Case!!!!
Ordered the U.S. Securities and Exchange Commission (SEC) to pay over $1.75 million in legal fees and costs for its actions in the Debt Box case. This decision reveals a potential example of misconduct by the SEC. It also raises serious questions about its approach to regulating the cryptocurrency industry. And of course, the first thing that comes to mind is XRP. The outcome of this legal battle is eagerly awaited within the cryptocurrency community and could have far-reaching implications for the industry. This case is likely to be concluded in July 2024. This may be hopeful news for XRP followers. It seems like there is a light at the end of the tunnel...
The judge said that the institution's lawyers misled the case. He stated that he could fine and impose sanctions on the institution.
New lawyers will come
After filing the case, the SEC used its power to freeze the assets worth $50 million, without taking the defense of the DEBT Box company. The SEC claimed that the company wanted to move assets out of the United States, but these allegations were later unproven.
“We won a historic victory.”
DEBT Box company said in the statement: “The US District Court of Utah officially rejected the lawsuit filed by the SEC against us. This means the case is closed and any future action by the SEC must be approved by Judge Shelby. Even if the case is reopened, it will not proceed as the SEC wants. The court also ordered the SEC to pay all costs. This is also a very important step in terms of justice and transparency. Today's decision is a historic victory. "It's a victory not just for us, but for the entire industry."
I think I'll take some risk and wait for #xrpusdt . It is not investment advice...
