SEC Faces Bipartisan Criticism for Misconduct in Crypto Case

A group of Republican senators has criticized the SEC's handling of a lawsuit against crypto firm DEBT Box, highlighting misleading statements and questioning the integrity of the agency's enforcement actions.

Republican senators criticize SEC Chair Gary Gensler for unethical and unprofessional conduct in DEBT Box lawsuit.
SEC accused of misrepresenting evidence in court, leading to asset freeze of DEBT Box, a crypto firm.
Federal judge reverses asset freeze decision, raising concerns about SEC's integrity in legal proceedings.
SEC moves to dismiss the case, pledges corrective actions including mandatory training for Enforcement Division staff.
Criticism reflects broader concerns over SEC's regulatory approach to the crypto industry under Gensler's leadership.