CommissionerU.S. Commodity Futures Trading Commission
Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.
CommissionerU.S. Commodity Futures Trading Commission
Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.
The U.S. Securities and Exchange Commission’s enforcement staff told crypto exchange Bittrex in March that it will recommend the agency take legal action over alleged violations of investor-protection laws by the company, the Wall Street Journal reported Sunday.
The SEC’s Wells Notice likely preceded Bittrex’s announcement at the end of March that it will be winding down its operations in the U.S., in part because of challenging regulatory conditions. The company is uncertain if the SEC will take legal action since it is now exiting the market, according to the Wall Street Journal’s report.
If the SEC does sue, Bittrex would litigate unless the SEC “came with a reasonable settlement offer,” David Maria, the firm’s general counsel, told the newspaper.
In October, Bittrex paid the U.S. Treasury Department’s sanctions and money-laundering watchdogs $30 million over allegations that the company had a poor compliance program between 2014 and 2017.
Bittrex and the SEC didn’t immediately return requests for comment.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
Post Disclaimer
The information provided in our posts or blogs are for educational and informative purposes only. We do not guarantee the accuracy, completeness or suitability of the information. We do not provide financial or investment advice. Readers should always seek professional advice before making any financial or investment decisions based on the information provided in our content. We will not be held responsible for any losses, damages or consequences that may arise from relying on the information provided in our content.
