- Bittrex has agreed to settle with the SEC over the case of offering unregistered securities.
- The crypto exchange is delighted to have reached the settlement.
The US-based crypto exchange Bittrex has agreed to settle with the U.S. Securities and Exchange Commission over the case of offering unregistered securities to U.S. investors. Moreover, the exchange agreed to pay $24 million to the SEC to settle the claims, according to a filing in Seattle Federal Court.
Today we announced that crypto asset trading platform Bittrex Inc. and its co-founder and former CEO, William Shihara, agreed to settle charges that they operated an unregistered national securities exchange, broker, and clearing agency.
— U.S. Securities and Exchange Commission (@SECGov) August 10, 2023
On August 11, the Securities and Exchange Commission tweeted that the crypto asset trading platform Bittrex and its co-founder and former CEO, William Shihara, agreed to settle the charges. As a part of the settlement, the crypto exchange neither accepted nor declined the SEC allegations.
U.S. regulators filed a lawsuit against the crypto exchange Bittrex and its former CEO, William Shihara, in April for selling unregistered securities. And also, the SEC claimed that the exchange’s foreign affiliate, Bittrex Global GmbH, has failed to register as a national securities exchange.
A Bittrex spokesperson stated that the exchange delighted to have reached the settlement and would say more after the court approves the resolution.
