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 <h2 id="strong-the-us-sec-rationale-for-the-charges-strong"><strong>The US SEC Rationale for the Charges</strong></h2> 
 <p><span style="font-weight: 400">According</span><span style="font-weight: 400"> to the markets regulator, the restraining order became important as the company, operating as a DEBT Box, was involved in what it termed a “fraudulent scheme to sell crypto asset securities to hundreds of U.S. investors that raised approximately $50 million and unspecified amounts of Bitcoin and Ether.”</span></p>  
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 <p><span style="font-weight: 400">The <a rel="noopener noreferrer nofollow" title="SEC" href="https://thebittimes.com/tag/sec.html">SEC</a> said the accused firm and the indicted individuals began their fraudulent scheme as far back as March 2021 to sell unregistered <a rel="noopener noreferrer nofollow" title="SEC" href="https://thebittimes.com/tag/sec.html">SEC</a>urities in the form of a “node license.”</span></p> 
 <p><span style="font-weight: 400">The company and the accused fraud scheme promised investors that the mined tokens will be featured in high-profile business ventures that would contribute to their valuation increase over time. These promises were all documented as they were made through social media posts and at a series of investor meetings.</span></p> 
 <p><span style="font-weight: 400">At this time, the SEC said it chose to file the lawsuit against the firm in a bid to protect investors, seeing every aspect of the promises made turned out to be lie.</span></p>  
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 <p><span style="font-weight: 400">“We allege that DEBT Box and its principals lied to investors about virtually every material aspect of their unregistered offering of <a rel="noopener noreferrer nofollow" title="SEC" href="https://thebittimes.com/tag/sec.html">SEC</a>urities, including by falsely stating that they were engaged in crypto asset mining,” said Tracy S. Combs, Director of the <a rel="noopener noreferrer nofollow" title="SEC" href="https://thebittimes.com/tag/sec.html">SEC</a>’s Salt Lake Regional Office. “We filed this emergency action to protect the victims of the defendants’ unlawful actions and stop further harm.”</span></p> 
 <p><span style="font-weight: 400">Based on the complaints, the SEC wants permanent Injunctive Relief and the forfeiture of all gains secured as well as the payment of a civil fee.</span></p> 
 <h2 id="strong-mix-of-interest-in-sec-s-crypto-securities-war-strong"><strong>Mix of Interest in SEC’s Crypto Securities War</strong></h2> 
 <p><span style="font-weight: 400">The US SEC plays a very crucial role in </span><span style="font-weight: 400">keeping the reins</span><span style="font-weight: 400"> on fraudulent entities exploiting users in the digital currency ecosystem. Despite the nobility of its war, the Commission often interwove it by </span><span style="font-weight: 400">cracking down</span><span style="font-weight: 400"> on more transparent businesses such as Ripple Labs, Coinbase, and Binance exchange respectively.</span></p> 
 <p><span style="font-weight: 400">The twist in its fight has earned the US <a rel="noopener noreferrer nofollow" title="SEC" href="https://thebittimes.com/tag/sec.html">SEC</a> a bitter sweet praise in its enforcement actions in the crypto ecosystem thus far.</span></p> 
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US SEC Secures Restraining Order Against Firm Accused of Crypto Fraud

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