SEC files lawsuit against Bittrex and former CEO for securities violations.
The SEC has filed charges against Bittrex, accusing the exchange of failing to comply with securities law by not registering with the financial watchdog in several areas, including as a broker-dealer, exchange, and clearing agency. The lawsuit names Bittrex, Bittrex Global, and former CEO Bill Shihara, alleging the exchange took in at least $1.3 billion in illicit revenue between 2017 and 2022. The SEC's attempt to go after Bittrex represents the latest development in a string of enforcement actions brought by U.S. regulators, targeting several cryptocurrency exchanges so far this year.