Judge Shelby Orders SEC to Pay $1.8M for Abusing Power Against DEBT Box

May 28, 2024, 10:25 PM

A U.S. judge, Judge Shelby, has dismissed the case against the cryptocurrency company 'DEBT Box' and ordered the Securities and Exchange Commission (SEC) to pay $1.8 million in damages. The ruling came after the judge found that the SEC had abused its power in its actions against DEBT Box. The decision marks a significant setback for the SEC, particularly under the leadership of Gary Gensler. The fine will be paid using taxpayer money.