ChainCatcher reported that according to CoinDesk, the Salt Lake City office of the U.S. Securities and Exchange Commission (SEC), which has been controversial for its failed fraud lawsuit against DEBT Box in the cryptocurrency world, will be closed due to "massive loss" of employees. The SEC said that the closure was based on budget and organizational efficiency considerations and that other regional offices would not be closed. In the future, law enforcement jurisdiction will be transferred to the SEC's Denver office.
It is reported that some employees were fired because of the case. SEC lawyers Michael Welsh and Joseph Watkins resigned in April after being sanctioned by a federal judge for "abuse of power" for attempting to freeze the assets of Utah cryptocurrency company DEBT Box for misleading reasons.
Earlier news, a federal judge dismissed the Debt Box case and required the US SEC to pay US$1.8 million in related fees.
