focused on ending its operations in the US. Bittrex, of the SECpossible action planning was included.
The Wall Street Journal’According to the news of the US Securities and Exchange Commission ( SEC) enforcement agency for alleged violations of the institution’s investor protection advised Bittrex to take action . focused on ending its operations in the US. Bittrexis preparing for possible pressure from the SEC.
Bittrex Considering Withdrawal From The US Is On The SEC’s Radar
Bittrexgeneral counsel David MariaHe stated that the SEC’s executive branch informed them. Mariaunderlined that Bittrex is in the process of liquidating and terminating its operations in the US.
In a notice of possible enforcement action known as the Wells notice SECstated that Bittrex serves as an exchange, broker and clearing platform without registering with the regulator. SECclaimed that with these actions, the exchange violated the law.
Also, Bittrex general counsel and general counsel Mariacompany last year He said he was in talks with the SEC. . Maria said that the exchange’s failure to comply with the SEC’s rules was due to the agency not providing clear regulations for crypto in the first place. speaking on the topic Maria, stated the following;
“The lack of regulatory clarity here comes at significant costs and there is no certainty about what can and cannot be offered.”
Maria, BittrexHe said he was unaware of the SEC’s moves as it ended its operations in the US. The attorney stated that Bittrex will counter-sue if the agency does not compromise on a possible move.
