Bittrex Prepares to Fight SEC, Despite Winding Up Operations in the US

2023-4-17 14:00

Bittrex has received a Wells Notice from the Securities and Exchange Commission (SEC) while preparing to wrap up operations in the U.S.

Bittrex, a crypto exchange preparing to shut down operations in the U.S., is in the crosshairs of the SEC. The regulatory body has intensified its mission to clamp down on crypto businesses since the start of this year.

David Maria, the general counsel at Bittrex, told the WSJ that they received a Wells Notice alleging engagement in business activities as an exchange, broker-dealer, and clearinghouse without registrations.

A Wells Notice is a formal notification from the SEC informing that they are considering legal action against an individual or an entity.

Wells Notice May Not Necessarily Lead to Court Action

Nevertheless, not all instances involving a Wells Notice from the SEC result in court proceedings. Sometimes, the regulatory body may drop the investigation or come to a settlement agreement with the party involved.

Maria said they are unsure if the regulators would take them to court because the company is already shutting down its operations. But, if the regulatory agency takes enforcement actions, Bittrex would litigate unless the SEC “came with a reasonable settlement offer.”

After a long history of struggle with regulators, the nine-year-old exchange finally decided to shut down its platform, citing the “unclear regulatory environment.”

A former SEC attorney, John Reed Stark, believes that “Coinbase is next for an SEC lawsuit.” Coinbase already received a Wells Notice last month.

Got something to say about Bittrex or anything else? Write to us or join the discussion on our Telegram channel. You can also catch us on TikTok, Facebook, or Twitter.

For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.

The post Bittrex Prepares to Fight SEC, Despite Winding Up Operations in the US appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

UpToken (UP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0008937 (-100%)

operations bittrex sec winding prepares fight despite

operations bittrex → Результатов: 27


Фото:

Bittrex Partnering to Launch Cryptocurrency Trading Platform for Latin America and the Caribbean

One of the leading US-based cryptocurrency exchanges is partnering up with a fintech company to launch a digital asset trading platform in Latin America and the Caribbean. Focus on User Experience The new digital asset trading platform in Latin America and the Caribbean will supposedly see an enhanced focus on user experience.

2018-9-7 06:00


Bittrex и Rialto запустят платформу для торговли цифровыми ценными бумагами

Американская криптобиржа Bittrex и зарегистрированный брокер-дилер Rialto Trading планируют запустить блокчейн-площадку для торговли цифровыми ценными бумагами. Об этом говорится в совместном пресс-релизе сторон.

2018-8-24 13:43