Bittrex Settles with SEC for $24M Over Unregistered Securities Charges

The U.S. Securities and Exchange Commission (SEC) has reached a settlement agreement with cryptocurrency trading platform Bittrex and its former CEO William Shihara over allegations of operating an unregistered exchange. Bittrex and Bittrex Global have agreed to pay $14.4 million in disgorgement, $4 million in prejudgment interest, and $5.6 million in civil penalties, subject to court approval. The SEC had filed a complaint in April claiming that Bittrex and Shihara operated an unregistered national securities exchange, broker, and clearing agency. The settlement highlights the SEC's focus on the economic realities of crypto offerings and the need to protect investors.