• News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Videos
  • Blogs
  • Market Cap
  • Shop
What's Hot

Get Ready For Bitcoin’s Next Leg Up

2025-07-15

Bitcoin’s Corporate Invasion – Why This Could Change EVERYTHING

2025-07-13

Here’s Exactly When to Grab the Next Wave of Crypto Altcoins

2025-07-12

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Twitter Instagram
Crypto Investor News Network
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT

    All Eyes on Art: Upcoming Collections to Watch the Week of February 4

    2025-02-05

    Creator of rabbit AI assistant has hidden NFT past

    2024-05-02

    Ethereum tops daily NFT sales at US$7 mln, ends weakest month of 2024

    2024-05-02

    Top NFT Airdrops and Giveaways for May 2024

    2024-05-02

    Casio Launches NFT Collection Celebrating 50th Anniversary

    2024-05-01
  • Metaverse

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    2024-12-13

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    2024-10-28

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    2024-09-05
  • Analysis

    Crypto Exchange Coinbase Lists New DeFi Altcoin Project Built on Base Blockchain

    2023-12-13

    Ethereum Price Bears Keep Pushing, Why Decline Isn’t Over Yet

    2023-12-13

    Trader Bullish on Cosmos (ATOM), Says One Dogecoin Rival Setting Up for Next Leg Up – Here’s His Outlook

    2023-12-13

    AVAX Price Pumps 50% and Dumps 15%, Why Uptrend Is Still Strong

    2023-12-13

    Top Trader Predicts Parabolic Rally for Solana Competitor – Here’s His Upside Target

    2023-12-13
  • Learn

    What Is Copy Trading in Crypto? A Beginner’s Guide

    2025-07-10

    A Step-by-Step Guide for Risk-Takers

    2025-07-09

    What is Spot Trading in Crypto? A Beginner’s Guide to How It Works

    2025-07-09

    How It Works and What to Watch Out For

    2025-07-09

    Crypto Risk Management Strategies for Trading (2025)

    2025-07-07
  • Videos

    Get Ready For Bitcoin’s Next Leg Up

    2025-07-15

    Bitcoin’s Corporate Invasion – Why This Could Change EVERYTHING

    2025-07-13

    Here’s Exactly When to Grab the Next Wave of Crypto Altcoins

    2025-07-12

    Bitcoin’s Next 6 Months—Here’s the Full Map 🧠🟧

    2025-07-12

    Markets Are Going BONKERS! Friday Firestorm! 🚨🔥

    2025-07-11
  • Blogs
  • Market Cap
  • Shop
Facebook Twitter Instagram TikTok
Crypto Investor News Network
Home»Regulation»Republican senators slam Gensler’s SEC over mishandling DEBT Box case
Regulation

Republican senators slam Gensler’s SEC over mishandling DEBT Box case

2024-02-08No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Republican senators slam Gensler’s SEC over mishandling DEBT Box case
Share
Facebook Twitter LinkedIn Pinterest Email

Several Republican senators have criticized the SEC’s recent mishandling of the DEBT Box case as “unethical” and raised questions about the watchdog’s regulatory approach under the leadership of chair Gary Gensler.

The five senators said in a letter dated Feb. 7 that the SEC’s blunders in the case were “unacceptable” and raised several concerns about its operations.

SEC’s mishandling of DEBT Box

The SEC accused DEBT Box of operating a crypto asset fraud scheme in August 2023. The regulator subsequently obtained a temporary asset freeze, restraining order, and other emergency relief against the firm.

Later court proceedings determined that those requests were granted based on false information from SEC counsel. The SEC admitted to inaccuracies in December and moved to drop the case entirely in late January.

The letter stated:

“We are greatly concerned by the Commission’s conduct in [the DEBT Box] case. It is unconscionable that any federal agency — especially one regularly involved in highly consequential legal procedures and one that, under your leadership, has often pursued its regulatory mission through enforcement actions rather than rulemakings — could operate in such an unethical and unprofessional manner.”

Senators acknowledged that the SEC’s errors were likely due to “negligence rather than malevolence” but said that “even this charitable explanation is unacceptable.”

The senators questioned how SEC counsel could be unfamiliar with the facts of a case and suggested that other enforcement cases could require scrutiny. They expressed concerns that other SEC cases may be based on “dubious evidence, obfuscations, or outright misrepresentations.”

Senators additionally called the SEC’s previous promise of mandatory staff retraining disproportionate to the severity of the incident. They also indirectly alluded to the SEC’s intention of reassigning senior staff to the DEBT Box case, dismissing this as a “pledge to reshuffle personnel.”

See also  Reclusive Binance co-founder Yi He speaks on SEC case

Senators opposed to SEC

The senators did not ask the SEC to perform any specific actions, nor did they request answers to any particular questions.

Instead, the letter appears to be just one part of those senators’ broader opposition to the SEC’s treatment of cryptocurrency. The letter is signed by five Republican senators known for their crypto-friendly positions: Cynthia Lummis, Thom Tillis, Bill Hagerty, Katie Boyd Britt, and J.D. Vance.

Earlier in February, Lummis led an effort to overturn the SEC’s Staff Accounting Bulletin 121, a rule that could restrict custody practices around cryptocurrency. Lummis is also notable for a bipartisan bill that would, in part, set clear crypto regulatory roles for the SEC and CFTC. However, that bill has not developed significantly since it was reintroduced in mid-2023.

Meanwhile, Vance and Tillis recently wrote a letter to the SEC concerning a breach of the agency’s X account before approving spot Bitcoin ETF approvals in January. The three other senators have also expressed concerns over that breach in separate statements.

.box Case debt Genslers mishandling Republican SEC senators Slam
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Cardano Finds A Use Case (Finally)

2025-06-28

WARNING: The Consumer Debt Bubble Is About to Burst

2025-06-27

Bondpocalypse: The Collapse of Debt Markets and Rise of Bitcoin

2025-05-22

💸 U.S. DEBT CRISIS: HOW to Defuse This Time Bomb🧨?

2025-05-17
Add A Comment

Leave A Reply Cancel Reply

Top Posts
DeFi

TokenFi Joins Forces with Carbon Browser, Targeting 7 Million+ DeFi Enthusiasts

2024-01-19

A Strategic Alliance in Web3 Space TokenFi, a prominent player in decentralized finance (DeFi), has…

Blockchain

Astar, Startale Labs announce Web3 partnership with Japanese telecom giant, KDDI 

2023-10-24

Singapore-based Astar Network and Startale Labs have entered a memorandum of understanding with Japanese telecom…

Videos

FINALLY! New Data Shows Sustainable Bitcoin Price Increase

2024-07-15

Sign Up Here for the CT Club! https://learningcrypto.com Trezor hardware wallet: …

Subscribe to Updates

Get the latest news and Update from CINN about Crypto, Metaverse and NFT.

Editors Picks

Get Ready For Bitcoin’s Next Leg Up

2025-07-15

Bitcoin’s Corporate Invasion – Why This Could Change EVERYTHING

2025-07-13

Here’s Exactly When to Grab the Next Wave of Crypto Altcoins

2025-07-12

Bitcoin’s Next 6 Months—Here’s the Full Map 🧠🟧

2025-07-12
Crypto Investor News Network
Facebook Twitter Instagram TikTok
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Disclouser
© 2025 - All rights are reserved.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 117,732.54
ethereum
Ethereum (ETH) $ 3,132.88
xrp
XRP (XRP) $ 2.92
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 690.95
solana
Solana (SOL) $ 164.02
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.19853
staked-ether
Lido Staked Ether (STETH) $ 3,130.71
tron
TRON (TRX) $ 0.300647
bitcoin
Bitcoin (BTC) $ 117,732.54
ethereum
Ethereum (ETH) $ 3,132.88
xrp
XRP (XRP) $ 2.92
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 690.95
solana
Solana (SOL) $ 164.02
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.19853
staked-ether
Lido Staked Ether (STETH) $ 3,130.71
tron
TRON (TRX) $ 0.300647