CryptoNews: Bittrex, a US cryptocurrency exchange, and the Securities and Exchange Commission (SEC) of the United States reached a $24 million settlement.
Bittrex, a US cryptocurrency exchange, and theThe SEC had earlier in April filed a lawsuit against Bittrex and its former CEO William Shihara, alleging that the exchange had been operating illegally as a securities exchange, broker, and clearinghouse.
The agency claimed that between 2017 and 2022, Bittrex made more than $1.3 billion in revenue illegally. The SEC further asserted that Bittrex instructed cryptocurrency issuers to delete statements that would suggest violations of securities laws. In accordance with the settlement, Bittrex must pay $14.4 million in disgorgement, prejudgment interest of $4 million, and civil money penalties of $5.6 million. It's noteworthy that Bittrex did not confirm or deny the SEC's allegations.
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