US Judge Shuts Down SEC, Says Agency Will Not Be Allowed to In | CryptoExplorer ✪

US Judge Shuts Down SEC, Says Agency Will Not Be Allowed to Interfere With Crypto Bankruptcy Proceedings
A judge in the Southern District of New York says he will stop the SEC from interfering with a bankruptcy case by claiming a new crypto asset is a security. Judge Michael Wiles says he will not allow the U.S. Securities and Exchange Commission to punish executives and advisors working on proposals to create a new token that would help repay customers, reports Bloomberg. The SEC issued an objection to bankruptcy proceedings for the embattled crypto lender Voyager early this year, which would help repay customers affected by the lender’s collapse. Judge Michael Wiles initially said he needs specifics on why the SEC objects and why it has decided to “stop everybody in their tracks” with little to no explanation of its concerns. Read more