Posted 12/1/2023, 9:47:00 PM
Judge Rebukes SEC Over False and Misleading Statements in Crypto Firm Asset Freeze
- Federal judge rebukes SEC, says it made "materially false and misleading" statements to justify freezing $50M in assets of crypto firm DEBT Box
- Judge troubled that SEC lawyer claimed firm was closing bank accounts to move overseas, but evidence showed no accounts closed in stated timeframe
- SEC accused firm of blocking access to social media sites, but provided no evidence company knew of any investigation
- Judge demands SEC explain apparent falsehoods or face possible sanctions for undermining integrity of legal proceedings
- Order comes as SEC faces criticism of vendetta against crypto industry under Chairman Gensler