Bittrex charged by SEC amid U.S. departure efforts

Bittrex

Bittrex announced last month it would exit the United States after deeming operations in the country “no longer feasible” amid inconsistent regulatory requirements. The Securities and Exchange Commission (SEC) isn’t keen on letting the digital asset trading platform leave scot-free.

The SEC on Monday announced charges against Seattle-based Bittrex and its co-founder and former Chief Executive William Shihara for operating an unregistered national securities exchange, broker, and clearing agency. The SEC also charged Liechtenstein-based subsidiary Bittrex Global for failing to register as a national securities exchange.

The case is the latest brought by the SEC against a crypto firm for the unregistered sale of securities. It comes three days after the agency announced the reopening of a comment period on amendments to its Exchange Act that would reiterate “the applicability of existing rules to platforms that trade crypto asset securities.”

lock iconTHIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.