SEC closes offices in Salt Lake City after court defeat against DEBT Box – DiarioBitcoin
The information came to light in a statement published by the SEC on its official website, where the agency indicates that the measure comes into place due to the “significant wear” seen among its staff members, especially as it is the smallest of the 11 regional offices currently active.
In this regard, it reads:
The SLRO has long been the SEC’s smallest regional office and has recently experienced significant attrition. The agency considered its budget and organizational efficiency when deciding to close the office, and has no plans to close any other regional offices. All current staff will be aligned with the SEC’s existing organizational components based on their current functions and the needs of the agency’s mission.
The defeat of the SEC in courts
The office closure comes a week after the court handling the case dismissed without prejudice the SEC’s case against the cryptocurrency mining company. DEBT Boxand ordered him to pay USD $1.8 million in fees. He ruled that the agency must cover the majority of the fees “reasonable” of lawyers and other legal expenses requested by the defendants, which amount to almost 2 million dollars.
Although this was a lawsuit initiated by the SEC against another crypto company, the case took a turn toward the end of last year, when agency officials acknowledged that it had made inaccurate statements and that “They did not comply” with expectations of being accurate and truthful in court.
After what happened, two lawyers of the SEC, who led the case against DEBT Box, they supposedly resigned after the Utah judge said the case was “marred by false statements and misrepresentations“.
