The US Securities and Exchange Commission (SEC) recently cryptocurrency The company released a statement stating its intention to drop the ongoing lawsuit against Debt Box.
SEC Seeks to Avoid Potentially Paying Fines by Dropping Case
The decision comes as the SEC faces a restraining order against the company and potential sanctions from the presiding judge for allegedly misleading the court to obtain an asset freeze.
The SEC’s choice to drop the case rather than face these potential sanctions marks a significant turn in the Debt Box case. However, it is important to note that the SEC dismissed the case “without pretrial.” This legal term means that the dismissal of the case is not final and the SEC reserves the right to file a new lawsuit against Debt Box in the future.
While the case’s dismissal, if accepted by the judge, would seem like a victory for the SEC, it doesn’t mean the agency is off the hook. The judge still retains the authority to impose monetary sanctions on the SEC for allegedly misleading the court.
As the case progresses, all eyes will be on the judge’s next move and whether the SEC will comment on the potential to reopen the case.
*This is not investment advice.
For exclusive news, analysis and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price monitoring now by downloading our applications!