Utah’s top judge says SEC lawyers may be sanctioned for “false statements” in crypto cases
A new court document shows that Robert J. Shelby, the chief federal judge in Utah, has ordered the Securities and Exchange Commission (SEC) to explain its statements made during the implementation and maintenance of the temporary restraining order (TRO) against the cryptocurrency company DEBT Box. The judge found that some of the SEC's statements regarding the order were "false or misleading" and that SEC lawyers may face sanctions.
According to federal rules cited by Shelby, sanctions "shall be limited to what is sufficient to deter repetition of such conduct," which may include monetary penalties but may also be limited to "non-monetary directives." SEC and its lawyers have 14 days to respond to Robert's order.
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