SEC Charges Bittrex and Former CEO for Unregistered Securities Exchange

The SEC has charged Bittrex and its former CEO for operating an unregistered national securities exchange, broker, and clearing agency. Bittrex Global GmbH was also charged for failing to register as a national securities exchange. The complaint alleges that Bittrex coordinated with issuers to delete problematic statements that would lead regulators to investigate the crypto asset as the offering of a security. Bittrex earned at least $1.3 billion in revenues from transaction fees from investors, including U.S. investors, while servicing them as a broker, exchange, and clearing agency without registering any of these activities with the Commission.