# Two SEC Lawyers Pushed Out After Agency Censured in Crypto Case

Source: https://news.bloomberglaw.com/securities-law/two-sec-lawyers-pushed-out-after-agency-censured-in-crypto-case
Kiwi News: https://news.kiwistand.com/stories/Two-SEC-Lawyers-Pushed-Out-After-Agency-Censured-in-Crypto-Case?index=0x6626a036c462c4d11217c2f3313470117d58339900735a703fd46b3d2c491fa5c8ae88ae
Submitted by ciefa.eth on 2024-04-22 UTC, 2 upvotes, 0 comments

## Summary

Two Securities and Exchange Commission lawyers resigned after a federal judge sanctioned the agency and rebuked it for "gross abuse" of power in a crypto case. Michael Welsh and Joseph Watkins, the lead attorneys on the case against Digital Licensing Inc., known as DEBT Box, stepped down in April 2024 after an SEC official told them they would be terminated if they stayed, according to people familiar with the matter. The lawsuit was described as marred by false statements, misrepresentations and a lack of evidence, according to Robert, whose surname is not shown.

## Article

April 22, 2024, 5:22 PM UTC

Two Securities and Exchange Commission lawyers resigned after a federal judge sanctioned and sharply rebuked the Wall Street regulator for “gross abuse” of power in a crypto case.

Michael Welsh and Joseph Watkins stepped down this month after an SEC official told them that they would be terminated if they stayed, according to people familiar with the matter. The pair were lead attorneys on a case against Digital Licensing Inc., a crypto platform known as DEBT Box.

The regulator’s lawsuit against DEBT Box was marred by false statements and misrepresentations, as well as a lack of evidence, according to Robert ...

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