SEC Lawyers Resign After Censure for Abuse of Power

The SEC's failed case against Digital Licensing Inc., a crypto platform known as DEBT Box, is continuing to make waves. Michael Welsh and Joseph Watkins, the SEC’s lead trial attorney and the agency’s lead investigative attorney on the case, stepped down this month after SEC officials told them they would be terminated otherwise. This follows Chief District Judge Robert Shelby sanctioning and sharply rebuking the financial regulator for “gross abuse” of power.