The SEC admitted its attorneys “should have been more forthcoming” with the court but argued a sanction wasn’t appropriate.
The United States securities regulator is seeking to dismiss a lawsuit it launched against a crypto company after a federal court issued an order mandating the agency provide reasons why it should not incur penalties for lying.
In a Jan. 30 court filing to a Utah District Court in its case against Debt Box, the Securities and Exchange Commission said it “has determined that the best way to proceed is to dismiss this action without prejudice.”
The SEC initially claimed Debt Box perpetrated a $50 million fraudulent crypto scheme amid its operations as a software mining license provider.
