Cryptocurrency

Key Points:<ul><li>SEC accused of making false representations in freezing crypto firm’s assets.</li><li>Legal setbacks multiply, including Ripple’s partial victory in XRP lawsuit.</li><li>Ongoing battles with Binance and Coinbase over alleged unregistered securities sales.</li></ul>The US Securities and Exchange Commission (SEC) encountered yet another hurdle on Friday, December 1, 2023, as a federal judge admonished the agency’s legal representatives in a case involving a cryptocurrency firm. The judge voiced strong criticism of the SEC’s handling of the financial matters of the crypto entity, stating that the Commission had made “materially false” representations to justify freezing the firm’s assets.<h2 id="header-0">Allegations of False Representations</h2>As per a detailed <a href="https://fortune.com/crypto/2023/12/01/federal-judge-sec-crypto-debt-box-rebuke-restraining-order-gensler/" rel="noopener noreferrer nofollow">report</a> by Fortune, the federal judge rebuked the attorneys representing the SEC for their management of assets totaling millions of dollars belonging to Debt Box, a crypto firm. The judge from Utah expressed concern that the SEC had provided the court with “materially false and misleading representations” to justify the freezing of millions of dollars in assets. The court demanded that the SEC present reasons why it should not face sanctions for allegedly deceiving the court.The judge highlighted that the <a href="https://cryptosnewss.com/secs-accelerated-decisions-a-glimpse-into-the-future-of-bitcoin-etf-approvals/" rel="noopener noreferrer nofollow">SEC</a>‘s deceptive actions resulted in irreparable harm to the company, leading to the freezing of assets valued at millions of dollars. The alleged misleading information was purportedly presented by the SEC to obtain approval for a temporary restraining order against the crypto company._______________________________________________________________________________________Stay connected with us on <a href="https://news.google.com/publications/CAAqBwgKMLrrowwwzOOyBA" rel="noopener noreferrer nofollow">Google News</a>, <a href="https://t.me/cryptosnewsss" rel="noopener noreferrer nofollow">Telegram</a>, <a href="https://twitter.com/NewssCryptos" rel="noopener noreferrer nofollow">Twitter</a>, and <a href="https://www.facebook.com/profile.php?id&#61;100089949049302" rel="noopener noreferrer nofollow">Facebook</a> to stay updated on the latest developments and engaging discussions in the realm of CryptosNewss.Disclaimer: Please note that the viewpoints and perspectives expressed by the author, as well as any individuals referenced in this article, are intended solely for informational purposes. They should not be construed as financial or investment advice. It’s important to acknowledge that investing in or trading cryptoassets carries inherent financial risks.Originally published at <a href="https://cryptosnewss.com/us-sec-faces-judicial-scrutiny-amid-allegations-of-false-representations-in-crypto-firm-case/" rel="noopener noreferrer nofollow">https://cryptosnewss.com</a> on December 2, 2023.

US SEC Faces Judicial Scrutiny Amid Allegations of False Representations in Crypto Firm Case

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