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

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

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Bittrex agrees to pay 24m to settle SEC charges for Operating an Unregistered Exchange, Broker, and Clearing Agency
The Securities and Exchange Commission today announced that crypto asset trading platform Bittrex Inc. agreed to settle charges that they operated an unregistered national securities exchange, broker, and clearing agency
Bittrex and Former CEO to settle SEC Charges for Operating an Unregistered Exchange, Broker, and Clearing Agency for 24m USD
SEC alleged that Bittrex directed issuers who sought to have their crypto assets made available for trading on Bittrex’s platform to delete from public channels certain “problematic statements” that were believed to lead a regulator to investigate whether the crypto asset was offered and sold as a security. As part of the settlement, the defendants neither admitted nor denied the SEC’s allegations

Publish date

08

Month
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10

Day
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2023

Year

12

:

00

am

Publisher

SEC

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The complaint further alleges that Bittrex and Shihara, who was the company’s CEO from 2014 to 2019, directed issuers who sought to have their crypto assets made available for trading on Bittrex’s platform to first delete from public channels certain “problematic statements” that Shihara believed would lead a regulator, such as the SEC, to investigate whether the crypto asset was offered and sold as a security. As part of the settlement, the defendants neither admit nor deny the SEC’s allegations.
Bittrex and Bittrex Global agreed to pay, on a joint and several basis, disgorgement of $14.4 million, prejudgment interest of $4 million, and a civil penalty of $5.6 million, for a total monetary payment of $24 million.
The Securities and Exchange Commission today announced that crypto asset trading platform Bittrex Inc. and its co-founder and former CEO, William Shihara, agreed to settle charges that they operated an unregistered national securities exchange, broker, and clearing agency.

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Bittrex and Former CEO to settle SEC Charges for Operating an Unregistered Exchange, Broker, and Clearing Agency for 24m USD

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Bittrex and Former CEO to settle SEC Charges for Operating an Unregistered Exchange, Broker, and Clearing Agency for 24m USD

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https://www.sec.gov/news/press-release/2023-150

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Bittrex agrees to pay 24m to settle SEC charges for Operating an Unregistered Exchange, Broker, and Clearing Agency

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Bittrex and Former CEO to settle SEC Charges for Operating an Unregistered Exchange, Broker, and Clearing Agency for 24m USD

Crypto

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Bittrex and Bittrex Global agreed to pay, on a joint and several basis, disgorgement of $14.4 million, prejudgment interest of $4 million, and a civil penalty of $5.6 million, for a total monetary payment of $24 million.

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