Bittrex has agreed to settle with SEC for $24 million without admitting or refuting the charges.
The U.S. Securities and Exchange Commission (SEC) announced on August 10 that the digital asset exchange Bittrex Inc. and its co-founder and former CEO, William Shihara, agreed to pay a $24 million fine to settle charges alleging they failed to register as a national securities exchange.
And The SEC Rolls On…
In April 2023, the SEC filed a claim against the U.S. Bittrex, alleging that the exchange’s operations fell under the definition of “an unregistered broker, exchange, and clearing agency.”
As detailed in the agency’s complaint, these activities primarily involved providing services to U.S. investors concerning crypto assets that the SEC claims were offered and sold as securities.
Bittrex and its former CEO, William Shihara, were accused of directing issuers to remove specific “problematic statements” from public channels…
