The Debt Box (DEBT) hit back against the SEC’s mistakes and asked the court to order the SEC body to give compensation against the loss that defendants faced because of the SEC’s false statement in the legal proceedings.
The Debt Box (DEBT) is a digital currency project that seeks to connect real-world commodities to the blockchain, aiming to add stability to its ecosystem. Last year, the US SEC body sued this crypto project & its key players Jason Anderson, his brother Jacob Anderson, Schad Brannon, Roydon Nelson and 13 others.
In the first week of Dec 2023, legal proceedings in the court proved that SEC lawyers were using false & misleading statements against The Debit Box defendants, to win the legal battle against the crypto company.
In response, the SEC lawyers claimed that they represented only those things which they found under those circumstances.
At the time, Crypto Law firm founder John Deaton shared his opinion on the SEC vs Debt case and explained how the SEC agency misused its power to run its agenda against the crypto sector.
In the latest legal proceedings in this case, the Debt box lawyers urged the court judge to pass an order against the SEC agency to give compensation for the loss that the defendants faced because of the SEC’s misleading statements.
According to Box Debt, because of the SEC’s false statements in the legal proceedings case was extended and such unfair tactics by the SEC body increased the company’s expenses to pay for attorneys as well as badly impacted the wealth of Debt token holders.
David Schwartz, the CTO of San Francisco headquartered blockchain firm Ripple, shared this development with his followers and tried to draw attention to the “first reply brief by the Box Debt defendants’ ‘ where they mentioned how their family faced a very bad situation when many armed people entered their house.
Through the first brief reply, the Debt Box defendants explained that they not only faced huge losses at the financial level but also lost social respect, which took several years for them to create.
Read also: K33 Research says Cardano (ADA) is useless crypto, Hoskinson hits back
DEBT Box demands attorney fees repayment & sanction against the US SEC
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