Bittrex to Pay $24 Million Penalty to Settle SEC Crypto Case (1)

Bankrupt crypto exchange operator Bittrex Inc. and its non-US affiliate will pay $24 million to settle allegations that they for years shirked Securities and Exchange Commission rules by offering services to US clients without registering with the agency.

The SEC in April alleged that Bittrex acted as an unregistered securities exchange, broker and clearing agency from 2017 through 2022 as it brought in at least $1.3 billion in revenue. At the time, the agency also sued co-founder William Shihara and the global affiliate Bittrex Global GmbH, both of which were part of Thursday’s settlement announcement.

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