SEC Asks to Drop Debt Box Lawsuit After Court Threatens Sanctions

THE SECOND admitted It is Lawyers "should to have has been more future" with THE court but argued A sanction was not appropriate.

THE United States securities regulator East while searching has dismiss A trial he spear against A crypto business After A federal court issued A order mandate THE agency provide the reasons Why he should not incur penalties For lie.

In A Jan. 30 court deposit has A Utah District Court In It is case against Debt Box, THE Securities And Exchange Commission said he "has determined that THE best path has proceed East has dismiss This action without prejudices. »

"While THE Commission recognize that It is Lawyers should to have has been more future with THE Court, punishments are not appropriate Or necessary has address those problems. »

THE SECOND initially claims Debt Box perpetrated A $50 million fraudulent crypto scheme in the middle of It is operations as A software mining Licence supplier.

In August, he won A restrict order has freeze Debt Boxes assets After affirming THE farm had Already sent $720,000 overseas And would be flee has THE United Arab Emirates And secretly transfer more assets with he if he was notified of THE command.

NEW: THE @SECGov has just deposit A Short In THE @DetteBox case saying that he for has dismiss THE trial against THE company.

THE SECOND East choose dismissal instead that confront possible punishments Since THE judge For misleading THE court In order has secure A restrict order And…