ChainCatcher News, SEC Chairman Gary Gensler faced criticism from lawmakers during yesterday's hearing for his handling of the Digital Licensing Inc. (also known as Debt Box) case. Republican Whip Tom Emmer accused the SEC of overregulation, claiming that it froze Debt Box's assets based on misinformation, resulting in approximately $1.8 million in sanctions against the SEC by the court.Gary Gensler acknowledged that the situation was "handled poorly" and expressed his frustration with Emmer's continued urging for the agency to regulate digital assets.

ChainCatcher news, according to CoinDesk, the Salt Lake City office of the U.S. Securities and Exchange Commission (SEC), which has been controversial due to a failed fraud lawsuit against DEBT Box in the cryptocurrency world, will close due to "significant employee turnover." The SEC stated that this closure is based on budget and organizational efficiency considerations and will not affect other regional offices. In the future, enforcement jurisdiction will be transferred to the SEC's Denver office.It is reported that some employees were dismissed due to this case. SEC attorneys Michael Welsh and Joseph Watkins were sanctioned by a federal judge for attempting to freeze the assets of Utah cryptocurrency company DEBT Box on misleading grounds, and both resigned in April.Previous news, a federal judge dismissed the Debt Box case, requiring the SEC to pay $1.8 million in related fees.

ChainCatcher news, according to Cointelegraph, a federal judge has ordered the U.S. Securities and Exchange Commission (SEC) to pay approximately $1.8 million in attorney fees and receivership costs related to the regulatory agency's civil case against Digital Licensing (operating under the name Debt Box).It is reported that in documents submitted to the U.S. District Court for Utah on May 28, Judge Robert Shelby signed an order requiring the SEC to pay about $1 million in attorney fees and related costs, as well as $750,000 in receivership fees and related costs. This order was issued alongside the decision to dismiss the case on the same day, but the dismissal was without prejudice.Debt Box stated in a post on May 28: "This is a significant victory for us. It means that the SEC cannot proceed with the case as it stands."Previously, two attorneys from the SEC resigned in April; they were the lead attorneys in a case against Digital Licensing Inc. (a cryptocurrency platform known as DEBT Box), after a federal judge harshly criticized the Wall Street regulator for "serious abuse" of power in a cryptocurrency case.

ChainCatcher News, U.S. Federal Judge Robert Shelby ruled that the U.S. Securities and Exchange Commission (SEC) must pay legal fees for the Utah-based cryptocurrency company DEBT Box, which the SEC has sued, finding that it committed serious abuses of power in obtaining a temporary restraining order.Previously, the SEC sued the cryptocurrency project last year, accusing it of fraud and obtaining a temporary asset freeze and restraining order against the company. According to the SEC, DEBT Box told customers it was selling licenses to mine cryptocurrency, but was actually just creating tokens with code. DEBT Box then sought to lift the temporary restraining order, claiming that the SEC misled the court regarding the company's transfer of funds and closure of bank accounts.

ChainCatcher news, FOX Business reporter Eleanor Terrett posted on X that the U.S. SEC has submitted a defense in court for the Debt Box case, indicating its intention to dismiss the lawsuit against the company. Previously, the SEC misled the court in order to obtain a restraining order and asset freeze against Debt Box.

ChainCatcher News: The U.S. Securities and Exchange Commission (SEC) has sued DEBT Box and its 18 executives for participating in a cryptocurrency securities fraud scheme. A federal judge in Utah has approved the SEC's request for a temporary restraining order against DEBT Box. The scheme sold approximately $50 million and an undisclosed amount of Bitcoin and Ethereum to hundreds of U.S. investors.