The regulator charged Bittrex and the company's CEO on April 17 for 'operating an unregistered exchange, broker, and clearing agency.' SEC CryptoEnforcement
SEC Charges Crypto Exchange Bittrex With Operating Unregistered Exchange, Broker, and Clearing Agency
After the report revealing that the cryptocurrency exchange Bittrex had received a Wells Notice from the U.S. Securities and Exchange Commission , the securities regulator charged Bittrex and the company’s CEO on April 17 for “operating an unregistered exchange, broker, and clearing agency.”On Monday, the U.S.
The SEC further alleged that Bittrex Global should have registered the exchange, and the regulator claims the two entities leveraged a “shared order book.” The complaint also notes that Bittrex should have registered as a clearing agency and a broker. “[Bittrex] regularly engaged in the business of effecting transactions for the accounts of others in crypto assets that were offered and sold as securities,” the SEC’s complaint insists.
“Today we’re holding Bittrex accountable for its noncompliance,” SEC chair Gary Gensler wrote in a statement on Monday. “Today’s action, yet again, makes plain that the crypto markets suffer from a lack of regulatory compliance, not a lack of regulatory clarity.
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