SEC Acknowledges Missteps in DEBT Box Lawsuit

SEC Acknowledges Missteps in DEBT Box Lawsuit



SEC Enforcement Director Gurbir Grewal acknowledged that federal lawyers did not meet expected standards in their lawsuit against cryptocurrency startup Digital Licensing. This admission followed criticism from a Utah court.



The U.S. Securities and Exchange Commission (SEC) admitted to making false statements in its enforcement action against blockchain company DEBT Box, accusing it of defrauding investors of nearly $50 million. During a July 28, 2023 hearing, an SEC lawyer unknowingly made an incorrect statement, which was not rectified even after the error was discovered.



In response to Judge Robert J. Shelby's order, the SEC filed a 27-page document addressing its misleading claims in seeking a restraining order against DEBT Box. The company offered node licenses for mining revenue without requiring actual mining setups, but


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