SEC Charges Bittrex and its Former CEO for Operating an Unregistered Exchange, Broker, and Clearing Agency

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SEC Charges Bittrex and its Former CEO for Operating an Unregistered Exchange, Broker, and Clearing Agency

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News story

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SEC claims that Bittrex should have registered as a clearing agency because it acted as an intermediary in making payments and deliveries upon matching sell and buy orders and maintained custody of customer assets
According to SEC crypto markets suffer from a lack of regulatory compliance, not a lack of regulatory clarity as Bittrex and issuers knew the rules but tried to avoid them
SEC alleges that Bittrex should have registered as a broker because it regularly engaged in the business of effecting transactions for the accounts of others in crypto assets that were offered and sold as securities
The Securities and Exchange Commission charged Bittrex for operating an unregistered national securities exchange, broker, and clearing agency
SEC claims that Bittrex should have registered as an exchange because they brought together, using a shared order book, the orders for securities from buyers and sellers
SEC claims that Bittrex coordinated with issuers who sought to have their crypto asset made available for trading on Bittrex’s platform to first delete from public channels certain “problematic statements” that believed to lead a regulator to investigate the crypto asset as the offering of a security

Date

04

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17

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2023

Year

12

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00

am

Related news events

SEC claims that Bittrex should have registered as a clearing agency because it acted as an intermediary in making payments and deliveries upon matching sell and buy orders and maintained custody of customer assets
According to SEC crypto markets suffer from a lack of regulatory compliance, not a lack of regulatory clarity as Bittrex and issuers knew the rules but tried to avoid them
The Securities and Exchange Commission charged Bittrex for operating an unregistered national securities exchange, broker, and clearing agency
SEC claims that Bittrex should have registered as an exchange because they brought together, using a shared order book, the orders for securities from buyers and sellers
SEC claims that Bittrex coordinated with issuers who sought to have their crypto asset made available for trading on Bittrex’s platform to first delete from public channels certain “problematic statements” that believed to lead a regulator to investigate the crypto asset as the offering of a security

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SEC Charges Crypto Asset Trading Platform Bittrex and its Former CEO for Operating an Unregistered Exchange, Broker, and Clearing Agency

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Crypto policy and regulation news