Loan Digest

Judge dismisses Debt Box case, orders SEC to pay $1.8M in fees

  • 📰 Cointelegraph
  • ⏱ Reading Time:
  • 56 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 51%

Loans Loans Headlines News

Debt Box said a May 28 ruling dismissing an SEC civil case and ordering $1.8 million in attorney and receivership fees was a “significant win.”

The civil lawsuit initially filed by the commission in 2023 ended on May 28, with a judge ordering the SEC to pay attorney and receivership fees.

A federal judge has ordered the United States Securities and Exchange Commission to pay roughly $1.8 million in attorney and receivership fees related to the regulator’s civil case against Digital Licensing, the firm doing business as Debt Box.off on an order requiring the SEC to pay roughly $1 million for attorney fees and costs and $750,000 for receiver fees and costs.

The sanctions against the SEC required the commission to cover “all attorney fees and costs arising from the improvidently enteredrelief.” Judge Shelby essentially ruled that all costs requested by the defendants in the case were “appropriate,” except one $649 fee.Debt Box in a May 28 X post. “It means that the SEC cannot proceed with the case as it stands.”The SEC lawsuit against Debt Box in July 2023 alleged the firm perpetrated an illegal $50 million crypto scheme.

The commission has ongoing lawsuits against several crypto firms, including Binance, Kraken, Ripple and Coinbase. Many lawmakers in the U.S. Congress have beenMemecoins dominate crypto open interest charts taking 4 out of top 10 spots

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 562. in LOANS

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

SEC tries again for Debt Box suit dismissal with option to refileThe U.S. Securities and Exchange Commission has filed a reply to its attempt to have its tarnished case against crypto software company Debt Box dismissed without prejudice.
Source: Cointelegraph - 🏆 562. / 51 Read more »

Democrats, Republicans split over the SEC's handling of DEBT Box and accounting guidanceDemocrats and Republicans were split on the SEC's handling of crypto enforcement actions, sparring over recent court cases during a hearing.
Source: TheBlock__ - 🏆 464. / 53 Read more »

Student Debt Stories: High Interest, Debt Strikes, Generational Debt, and MoreThe student debt crisis has many faces, from students dealing with private loans and high interest rates to those with debt but no degree.
Source: TeenVogue - 🏆 481. / 51 Read more »