Bittrex, foreign affiliate to pay $24M over unregistered sale of securities
By 
Jeff Dale2023-08-11T15:19:00
The Securities and Exchange Commission (SEC) ordered cryptocurrency trading platform Bittrex and its foreign affiliate to pay $24 million for running an unregistered national securities exchange, broker, and clearing agency.
Bittrex and Bittrex Global agreed to pay disgorgement of $14.4 million, a civil penalty of $5.6 million, and prejudgment interest of $4 million, the SEC announced in a press release Thursday. The settlement is subject to court approval.
The settlement resolves charges announced in April against Bittrex and its co-founder and former Chief Executive William Shihara. In March, Bittrex disclosed plans to exit the U.S. market after deeming operations in the country “no longer feasible” amid heightened regulatory scrutiny. In May, the company filed for bankruptcy in the United States.
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