SEC Salt Lake Office Shut Down: Coinbase Lawyer Slams “Attrition” Claim

CoinEdition · 2024-06-05T10:43:07.000Z

The SEC announces the closure of its Salt Lake Regional Office (SLRO), citing a significant attrition. The move follows the SEC’s failure in the Debt Box case, where the judge accused the agency of bad faith conduct. Paul Grewal criticizes the use of the term attrition, asking whether it refers to the judge’s unprecedented sanctions. The U.S. Securities and Exchange Commission (SEC) has announced the closure of its Salt Lake Regional Office (SLRO), citing “significant attrition.” This decision follows a court ruling against the SEC in the Debt Box lawsuit, and Coinbase lawyer Paul Grewal criticized the SEC’s use of the term “attrition.” “Attrition”— is that what we are calling unprecedented misrepresentations and bad faith warranting unprecedented sanctions by a federal judge? https://t.co/rb581Eb0lD — paulgrewal.eth (@iampaulgrewal) June 4, 2024 The SEC recently faced a setback in the Debt Box case when District Court Judge Robert J. Shelby condemned the agency for their “bad faith conduct.” The SEC previously accused Debt Box of a $50 million fraud scheme. However, the judge dismissed the case, ordering the SEC to pay $1.75 million to cover legal fees and other expenses. In its recent press release, the SEC disclosed its decision to shut down SLRO, reducing the regulator’s regional offices from 11 to 10. The agency stated that SLRO had been the SEC’s smallest regional office. The SEC elaborated: “The agency considered its budget and organizational efficiency in deciding to close the office, and it has no plans to close any other regional offices. All current staff will be aligned to existing SEC organizational components based on their current functions and agency mission needs.” Commenting on the SEC’s decision and the word “attrition” mentioned in the press release, Coinbase Chief Legal Officer Grewal rebuked, “Attrition—is that what we are calling unprecedented misrepresentations and bad faith warranting unprecedented sanctions by a federal judge?.” Further, reflecting on the SEC’s anti-crypto stance and crypto lawsuits, Grewal remarked, “All that talk of ‘cops’ and ‘Wild West’ from a civil agency with zero criminal jurisdiction.” The post SEC Salt Lake Office Shut Down: Coinbase Lawyer Slams “Attrition” Claim appeared first on Coin Edition.

美國證券交易委員會 (SEC) 宣佈關閉其鹽湖地區辦事處 (SLRO)，理由是人員嚴重流失。
在此之前，美國證券交易委員會在 Debt Box 案中失敗，法官指控該機構有惡意行爲。
保羅·格雷瓦爾批評了「自然減員」一詞的使用，並詢問它是否指的是法官前所未有的制裁。
美國證券交易委員會 (SEC) 宣佈關閉鹽湖地區辦事處 (SLRO)，理由是「人員嚴重流失」。這項決定是在法院在 Debt Box 訴訟中對 SEC 做出不利於 SEC 的裁決之後做出的，Coinbase 律師 Paul Grewal 批評了 SEC 對「消耗」一詞的使用。
“減員”——這就是我們所說的史無前例的虛假陳述和惡意，需要聯邦法官實施史無前例的制裁嗎？https://t.co/rb581Eb0lD
— paulgrewal.eth (@iampaulgrewal) 2024 年 6 月 4 日
SEC 最近在 Debt Box 案中遭遇挫折，地方法院法官羅伯特·謝爾比 (Robert J. Shelby) 譴責該機構“行爲不端”。SEC 此前指控 Debt Box 涉嫌 5000 萬美元的欺詐計劃。然而，法官駁回了此案，命令 SEC 支付 175 萬美元以支付律師費和其他費用。
在最近的新聞稿中，SEC 披露了關閉 SLRO 的決定，該監管機構的地區辦事處從 11 個減少到 10 個。該機構表示，SLRO 是 SEC 最小的地區辦事處。SEC 詳細說明：
“該機構在決定關閉該辦公室時考慮了預算和組織效率，並且不打算關閉任何其他地區辦事處。所有現有員工將根據其當前職能和機構任務需求與現有的 SEC 組織部門保持一致。”
Coinbase 首席法律官 Grewal 在評論 SEC 的決定和新聞稿中提到的“人員流失”一詞時反駁道：“人員流失——這​​就是我們所說的史無前例的虛假陳述和惡意行爲，需要聯邦法官採取史無前例的制裁嗎？”此外，在反思 SEC 的反加密貨幣立場和加密貨幣訴訟時，Grewal 評論道：“所有關於‘警察’和‘狂野西部’的言論都來自一個沒有刑事管轄權的民事機構。”
《SEC 鹽湖城辦公室關閉：Coinbase 律師猛烈抨擊“人員流失”指控》一文最先出現在 Coin Edition 上。

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