This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Ethereum insider Steven Nerayoff has criticized the US Securities and Exchange Commission (SEC) for alleged misconduct in a recent case involving crypto firm DEBT Box. The SEC had accused DEBT Box of offering unregistered securities and defrauding investors. However, Federal Judge Robert Shelby expressed doubts over the SEC’s conduct, suggesting that false evidence was presented to freeze DEBT Box’s assets. Nerayoff, who has had his own legal battles with the SEC, lambasted the agency, claiming that it conducted a prolonged investigation into his activities without evidence of wrongdoing. He also accused the SEC of fabricating a crime in collaboration with the FBI and DOJ, leading to his prosecution. Nerayoff further alleged that the SEC overstepped its jurisdiction by leading a criminal prosecution against him. He highlighted issues with evidence handling and claimed that critical documents were withheld from him. Additionally, Nerayoff stated that he faced pressure to provide information about other industry leaders during his prosecution. The revelations by Nerayoff have brought attention to the SEC’s practices in its dealings with the cryptocurrency industry. Currently, Nerayoff is reportedly working on fraud allegations against Ethereum founders Vitalik Buterin and Joseph Lubin.