US Federal Judge Orders SEC to Pay Legal and Takeover Fees in Debt Box Case

According to PANews, US Federal Judge Robert Shelby has ordered the Securities and Exchange Commission (SEC) to pay approximately $1.8 million in legal and takeover fees. This order is related to the regulator's civil case against Debt Box, which was dismissed on May 28. The judge pointed out that the SEC showed 'malicious behavior' in the temporary injunction to freeze Debt Box's assets. This ruling is a significant victory for Debt Box, as it means the SEC cannot continue with the current case. In July 2023, the SEC filed a lawsuit against Debt Box, accusing the company of implementing an illegal cryptocurrency scheme worth $50 million. The documents submitted by the company indicated that the commission made false statements when trying to obtain a temporary restraining order against the company. Many in the cryptocurrency field have taken this as an example of regulatory overreach.