Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Milei closes Libra Task Force and investigates ties with its administration

2025-05-20

Ethereum: What you need to know about the 10-year low exchange stock of ETH

2025-05-20

The Supreme Court of India calls for clear crypto guidelines not outright prohibition

2025-05-20
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    BSCS Backs Backs AI-conducted shopping assistant in collaboration with Pulsebot AI

    2025-05-20

    Basic, BNB chain, Ethereum and others

    2025-05-20

    What are tokenized real-world assets? Put physical value on the chain with RWAS

    2025-05-20

    Basic kit transactions rise as DEX volume approaches $ 400 billion milestone

    2025-05-20

    Taiko Alethia launches the most expected Pacaya Hardfork -upgrade on MAINNET

    2025-05-20
  • NFT

    Guild of Guardians leads with a huge volume of $ 796.62k

    2025-05-20

    Solana Meme Coin Ponke Set to release assembly objects, clothing via Jcorp Spinout

    2025-05-19

    The most popular collections of the moment on blockchain

    2025-05-18

    Raoul Pal sees NFT market exploding when Ethereum Bull Cycle is approaching

    2025-05-17

    Ethereum is at the top of the charts in weekly NFT sales with $ 44.7 million in sales volume

    2025-05-16
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    Milei closes Libra Task Force and investigates ties with its administration

    2025-05-20

    Ethereum -price flashes bullish signal, but can it flow through obstacles?

    2025-05-20

    XRP Price Eyes Winins, but technically suggests that upsides can be limited

    2025-05-20

    Bitcoin still cannot close daily candle above $ 106k after 8 failed attempts in 2025

    2025-05-20

    Solana (SOL) keeps land in tight reach – Traders looking at Directional Cue

    2025-05-20
  • Learn

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-10
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Altcoins»Bittrex, SEC Reach Settlement In Securities Violation Case
Altcoins

Bittrex, SEC Reach Settlement In Securities Violation Case

2023-08-11No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Another crypto firm, Bittrex, bites the dust in the SEC’s continued clampdown on major players in the crypto industry amidst regulatory uncertainty. The regulator has been known to come hard at these crypto firms because it believes they aren’t toeing an almost non-existent regulatory framework. 

Bittrex Succumbs To SEC

In a press release dated August 10, the United States Securities and Exchange Commission (SEC) announced that crypto exchange Bittrex and its former CEO William Shihara have agreed to a $24 million monetary settlement with the regulator. According to the statement, Bittrex’s international affiliate company Bittrex Global GmbH also agreed to settle the charge of failing to register as a national securities exchange.

The SEC had alleged that the crypto exchange and its former CEO operated an “unregistered national securities exchange, broker, and clearing agency.” It argued that the exchange violated securities laws when it offered and allowed US investors to invest in crypto assets, which it deems as securities (The SEC has continued to allege that tokens like MATIC, SOL, ADA, and XRP are securities). 

Furthermore, the agency accused the firm and its former CEO of going as far as to cover their tracks in order to escape regulatory scrutiny. The SEC’s complaint stated Shihara directed token issuers, who wanted their tokens listed on the exchange, to remove “problematic statements,” which could lead any regulator to investigate whether or not the company offered and sold securities on the platform.

The settlement news may come as a surprise considering many thought the SEC was going to experience a pushback from the crypto exchange. This is because Bittrex had earlier argued that the SEC had no authority to regulate tokens traded on its platform due to a lack of clear-cut law by Congress authorizing the regulator to do so. 

See also  Solana may not reach $200 this cycle even if there are bullish signals. Why?

SEC Might Be Killing The Crypto Economy

Besides Bittrex, the SEC is currently embroiled in legal battles against the world’s biggest cryptocurrency exchanges, Binance and Coinbase. Similarly, it accuses these exchanges of offering and selling securities on their platform without registering with the agency.

While many may argue that the SEC is simply doing its job of protecting the interests of US investors, others may take a different point of view by arguing that the SEC is simply killing the Web3 economy in the country. For instance, Bittrex, before filing bankruptcy in the US, had earlier shut down its US operations due to “continued regulatory uncertainty.” 

This unfavorable regulatory environment is undoubtedly one of the reasons why some other crypto firms have also chosen to take their operations abroad instead of being domiciled in the US, especially with the fact that other countries are putting crypto-friendly guidelines in place on how crypto exchanges should conduct their operations. 

For this reason, Congress needs to step in and pass clear-cut laws that stipulate whether or not crypto exchanges fall under the purview of the SEC, and if yes, it needs to also address whether crypto assets are securities or not. 

Crypto total market cap chart from Tradingview.com (Bittrex)

Total market cap down to $1.133 trillion amid regulatory concerns | Source: Crypto Total Market Cap on Tradingview.com

Featured image from Business Insider, chart from Tradingview.com

Source link

Bittrex case Reach SEC Securities settlement Violation
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ethereum: What you need to know about the 10-year low exchange stock of ETH

2025-05-20

If you have $ 5000 and want to change $ 5 million by 2028, which are the best altcoins to buy? Top 5 contenders

2025-05-20

Solana set up for the largest protocol revision so far with ‘Alpenglow’ upgrade

2025-05-20

Bitcoin briefly surpasses $ 106k for withdrawal, analyst sees stable momentum

2025-05-20
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Montenegrin court overturns decision to extradite Terra Do Kwon to the US

2023-12-19

Bitcoin is on the verge of a deep corrective move after BTC’s rally to $30,000, according to top trader

2023-10-17

Ethereum price just reversed and signals fresh run to $2,000

2023-05-07
Editors Picks

Collaboration is the solution for the fragmentation crisis of Web3

2025-02-03

Bitcoin maintains a strong correlation with the US stock market

2025-01-26

DeBridge introduces Hooks for real-time data transfer via DeFi

2024-10-09

Top XRP NFT Project XPUNKS Moves to Solana

2024-03-19
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Milei closes Libra Task Force and investigates ties with its administration

Ethereum: What you need to know about the 10-year low exchange stock of ETH

The Supreme Court of India calls for clear crypto guidelines not outright prohibition

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$106,732.890.97%
  • ethereumEthereum(ETH)$2,505.45-0.66%
  • tetherTether USDt(USDT)$1.000.03%
  • rippleXRP(XRP)$2.35-1.75%
  • binancecoinBNB(BNB)$648.730.01%
  • solanaSolana(SOL)$167.930.74%
  • usd-coinUSDC(USDC)$1.000.02%
  • dogecoinDogecoin(DOGE)$0.224505-0.09%
  • cardanoCardano(ADA)$0.74-0.44%
  • tronTRON(TRX)$0.2704361.93%
  • suiSui(SUI)$3.881.97%
  • chainlinkChainlink(LINK)$15.58-1.44%
  • avalanche-2Avalanche(AVAX)$22.430.75%
  • stellarStellar(XLM)$0.2867400.06%
  • hyperliquidHyperliquid(HYPE)$25.90-3.05%
  • shiba-inuShiba Inu(SHIB)$0.000014-0.38%
  • hedera-hashgraphHedera(HBAR)$0.1933760.36%
  • unus-sed-leoUNUS SED LEO(LEO)$8.770.98%
  • bitcoin-cashBitcoin Cash(BCH)$391.06-0.23%
  • the-open-networkToncoin(TON)$3.071.59%
  • polkadotPolkadot(DOT)$4.640.73%
  • litecoinLitecoin(LTC)$93.78-5.40%
  • moneroMonero(XMR)$348.261.40%
  • bitget-tokenBitget Token(BGB)$5.15-0.24%
  • pepePepe(PEPE)$0.000013-1.42%
  • piPi(PI)$0.752.17%
  • daiDai(DAI)$1.00-0.01%
  • ethena-usdeEthena USDe(USDE)$1.000.02%
  • aaveAave(AAVE)$257.477.17%
  • uniswapUniswap(UNI)$5.88-1.53%
  • bittensorBittensor(TAO)$414.681.48%
  • nearNEAR Protocol(NEAR)$2.780.54%
  • aptosAptos(APT)$5.14-0.53%
  • okbOKB(OKB)$52.18-0.11%
  • ondo-financeOndo(ONDO)$0.941.39%
  • kaspaKaspa(KAS)$0.1091091.73%
  • ethereum-classicEthereum Classic(ETC)$18.34-0.76%
  • internet-computerInternet Computer(ICP)$5.22-0.09%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.413.61%
  • gatechain-tokenGateToken(GT)$21.39-0.25%
  • crypto-com-chainCronos(CRO)$0.0965230.82%
  • mantleMantle(MNT)$0.752.68%
  • vechainVeChain(VET)$0.0282260.86%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.231171-0.88%
  • render-tokenRender(RENDER)$4.631.33%
  • ethenaEthena(ENA)$0.3764422.81%
  • usd1World Liberty Financial USD(USD1)$1.00-0.05%
  • algorandAlgorand(ALGO)$0.222157-0.03%
  • arbitrumArbitrum(ARB)$0.389617-0.21%
  • filecoinFilecoin(FIL)$2.83-1.52%
  • bitcoinBitcoin(BTC)$106,732.890.97%
  • ethereumEthereum(ETH)$2,505.45-0.66%
  • tetherTether USDt(USDT)$1.000.03%
  • rippleXRP(XRP)$2.35-1.75%
  • binancecoinBNB(BNB)$648.730.01%
  • solanaSolana(SOL)$167.930.74%
  • usd-coinUSDC(USDC)$1.000.02%
  • dogecoinDogecoin(DOGE)$0.224505-0.09%
  • cardanoCardano(ADA)$0.74-0.44%
  • tronTRON(TRX)$0.2704361.93%
  • suiSui(SUI)$3.881.97%
  • chainlinkChainlink(LINK)$15.58-1.44%
  • avalanche-2Avalanche(AVAX)$22.430.75%
  • stellarStellar(XLM)$0.2867400.06%
  • hyperliquidHyperliquid(HYPE)$25.90-3.05%
  • shiba-inuShiba Inu(SHIB)$0.000014-0.38%
  • hedera-hashgraphHedera(HBAR)$0.1933760.36%
  • unus-sed-leoUNUS SED LEO(LEO)$8.770.98%
  • bitcoin-cashBitcoin Cash(BCH)$391.06-0.23%
  • the-open-networkToncoin(TON)$3.071.59%
  • polkadotPolkadot(DOT)$4.640.73%
  • litecoinLitecoin(LTC)$93.78-5.40%
  • moneroMonero(XMR)$348.261.40%
  • bitget-tokenBitget Token(BGB)$5.15-0.24%
  • pepePepe(PEPE)$0.000013-1.42%
  • piPi(PI)$0.752.17%
  • daiDai(DAI)$1.00-0.01%
  • ethena-usdeEthena USDe(USDE)$1.000.02%
  • aaveAave(AAVE)$257.477.17%
  • uniswapUniswap(UNI)$5.88-1.53%
  • bittensorBittensor(TAO)$414.681.48%
  • nearNEAR Protocol(NEAR)$2.780.54%
  • aptosAptos(APT)$5.14-0.53%
  • okbOKB(OKB)$52.18-0.11%
  • ondo-financeOndo(ONDO)$0.941.39%
  • kaspaKaspa(KAS)$0.1091091.73%
  • ethereum-classicEthereum Classic(ETC)$18.34-0.76%
  • internet-computerInternet Computer(ICP)$5.22-0.09%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.413.61%
  • gatechain-tokenGateToken(GT)$21.39-0.25%
  • crypto-com-chainCronos(CRO)$0.0965230.82%
  • mantleMantle(MNT)$0.752.68%
  • vechainVeChain(VET)$0.0282260.86%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.231171-0.88%
  • render-tokenRender(RENDER)$4.631.33%
  • ethenaEthena(ENA)$0.3764422.81%
  • usd1World Liberty Financial USD(USD1)$1.00-0.05%
  • algorandAlgorand(ALGO)$0.222157-0.03%
  • arbitrumArbitrum(ARB)$0.389617-0.21%
  • filecoinFilecoin(FIL)$2.83-1.52%