SEC Takes Legal Action Against Bittrex Crypto Exchange.

The US Securities and Exchange Commission (SEC) has filed a lawsuit against Bittrex, alleging that the crypto exchange violated federal laws by operating as a national securities exchange, broker, and clearing agency simultaneously. The former CEO and Bittrex Global GmbH are also facing charges. The SEC claims that Bittrex should have registered as an exchange, clearing agency, and broker, and worked with crypto issuers to alter their offering materials to circumvent registration requirements. Bittrex announced last month that it planned to exit the US by the end of April, citing the current regulatory and economic environment.