Bittrex Settles with SEC, Pays $24M Fine
Crypto exchange Bittrex has reached a settlement with the U.S. Securities and Exchange Commission (SEC) over charges of offering unregistered securities to U.S. investors. As part of the settlement, Bittrex will pay a $24 million fine within two months of filing a liquidation plan for the exchange. The SEC alleged that Bittrex operated as a securities exchange, broker, and clearinghouse without proper registration. Bittrex neither admitted nor denied the allegations but agreed not to make any public statements suggesting the SEC lacked a factual basis for its claims. The fine includes disgorgement, prejudgment interest, and civil money penalties. Bittrex has until 90 days after its liquidation plan is effective to pay the SEC, with the regulator reserving the right to seek court judgment if payment is not made by March 1, 2023.
