Summary
Cryptocurrency project DEBT Box is urging a federal judge to reject the Security and Exchange Commission’s (SEC) motion to dismiss its case against the company, claiming that the agency is trying to conceal misconduct. The SEC had asked the court to dismiss the case without prejudice, allowing them to refile charges in the future. DEBT Box argues that the SEC wants to exit the case on its own terms and retain the option to take further action later. The company’s representatives claim that the temporary restraining order granted by the court last year caused significant disruption to the platform and its users. The defendants are also requesting the judge to maintain a scheduled hearing on March 7, which the SEC had asked to cancel.
Key Points
1. DEBT Box is requesting a federal judge to deny the SEC’s motion to dismiss its case against the cryptocurrency project, arguing that the agency is trying to cover up misconduct.
2. The SEC had asked the court to dismiss the case without prejudice, which would allow them to refile charges against the defendants in the future.
3. Defendants claim that the SEC’s actions, including obtaining a temporary restraining order, have caused significant disruption to DEBT Box, leading to financial losses and difficulties in conducting business.