Another crypto firm, Bittrex, bites the dust in the SEC’s continued clampdown on major players in the crypto industry amidst regulatory uncertainty. The regulator has been known to come hard at these crypto firms because it believes they aren’t toeing an almost non-existent regulatory framework.
Bittrex Succumbs To SEC
In a press release dated August 10, the United States Securities and Exchange Commission (SEC) announced that crypto exchange Bittrex and its former CEO William Shihara have agreed to a $24 million monetary settlement with the regulator. According to the statement, Bittrex’s international affiliate company Bittrex Global GmbH also agreed to settle the charge of failing to register as a national securities exchange.
The SEC had alleged that the crypto exchange and its former CEO operated an “unregistered national securities exchange, broker, and clearing agency.” It argued that the exchange violated securities laws when it offered and allowed US investors to i
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