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 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.