2 SEC Lawyers Resign Due to Power Abuse in Crypto-related Trial
According to anonymous sources cited by Bloomberg, two US Securities and Exchange Commission lawyers recently resigned following criticism from a Utah judge for the agency’s abuse of power.
The report also stated that the SEC had threatened to fire the lawyers if they did not voluntarily resign.
The judge had publicly rebuked the attorneys for making false statements and misrepresentations in a case against crypto platform Debt Box, which the SEC had accused of defrauding investors of $49 million.
This is not the first time that the crypto industry has clashed with the SEC, with prominent companies like Coinbase facing disagreements with the regulatory body.
While the SEC has moved to dismiss the case against Debt Box, the judge has yet to respond, as per the report.
