<div class="coinjournal">
 <ul>
  <li>Judge dismisses U.S. SEC’s case against Debt Box, orders SEC to pay $1.8 million in fees.</li>
  <li>The Ruling cites SEC’s bad faith conduct in obtaining asset freeze order.</li>
  <li>Debt Box calls the court’s decision a significant victory against regulatory overreach.</li>
 </ul>
 <p>In a significant legal victory for Digital Licensing, the firm known as Debt Box, a federal judge has dismissed the U.S. Securities and Exchange Commission’s (SEC) civil lawsuit and <a rel="noopener noreferrer nofollow" title="order" href="https://thebittimes.com/tag/order.html">order</a>ed the regulatory body to pay approximately $1.8 million in fees.</p>
 <p>The ruling, handed down on May 28 by Judge Robert Shelby in the U.S. District Court for the District of Utah, marks a notable rebuke of the SEC’s actions in this case.</p>
 <h2 id="the-u-s-sec-on-the-receiving-end">The U.S. SEC on the receiving end</h2>
 <p>The fees include roughly $1 million for attorney fees and costs, and an additional $750,000 for receiver fees and costs.</p>
 <p>This <a rel="noopener noreferrer nofollow" title="order" href="https://thebittimes.com/tag/order.html">order</a> followed a March court decision that found the SEC had engaged in “bad faith conduct” by seeking a temporary restraining <a rel="noopener noreferrer nofollow" title="order" href="https://thebittimes.com/tag/order.html">order</a> to freeze Debt Box’s assets based on inaccurate information. This misconduct led the court to threaten sanctions against the commission.</p>
 <p>Judge Shelby’s ruling mandated that the SEC cover all attorney fees and costs resulting from the erroneous ex parte relief, with the exception of one $649 fee which he deemed inappropriate.</p>
 <p>Debt Box, in a statement released via X, hailed the decision as a major triumph, stating, “This is a significant win for us. It means that the SEC cannot proceed with the case as it stands.”</p>
 <h2 id="what-was-the-debt-box-case-all-about">What was the Debt Box case all about?</h2>
 <p>The SEC’s lawsuit, initially filed in July 2023, accused Debt Box of orchestrating an illegal $50 million cryptocurrency scheme.</p>
 <p>However, Debt Box countered with documentation suggesting that the SEC had made false statements and misrepresentations, which led to the improper restraining <a rel="noopener noreferrer nofollow" title="order" href="https://thebittimes.com/tag/order.html">order</a>.</p>
 <p>This case drew considerable attention within the cryptocurrency community, highlighting issues of regulatory overreach.</p>
 <p>Meanwhile, the SEC continues to pursue legal actions against several other crypto firms, including Binance, Kraken, Ripple, and Coinbase.</p>
 <p>In response, lawmakers are advocating for clearer regulatory frameworks for digital assets, with proposed legislation like the Financial Innovation and Technology for the 21st Century Act aiming to address these concerns.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/judge-orders-the-u-s-sec-to-pay-1-8m-in-debt-box-case-dismissal-tbt90233.html">https://thebittimes.com/judge-orders-the-u-s-sec-to-pay-1-8m-in-debt-box-case-dismissal-tbt90233.html</a></p>

Judge orders the U.S. SEC to pay $1.8M in Debt Box case dismissal

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