Bittrex crypto exchange has allegedly violated laws by doing business as an exchange and broker-dealer without a registration, according to the SEC.
The United States-based cryptocurrency exchange Bittrex is reportedly facing potential action from the U.S. securities regulator despite preparing to shut down local operations.
In the notice of potential enforcement action — known as a Wells notice — the SEC wrote that Bittrex had violated laws by doing business as an exchange, broker-dealer and clearinghouse without registering with the regulator. Attorney Maria stressed that Bittrex’s inability to comply with the SEC rules was due to the agency not providing clear regulations for crypto in the first place. He stated:
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