Did Bittrex offer US investors access to unregistered securities?

The crypto exchange faced charges of offering U.S. investors access to unregistered securities. Crypto exchange Bittrex settled charges of offering U.S. investors access to unregistered securities on Thursday, agreeing to pay a $24 million fine within two months of filing a liquidation plan for the exchange.

Did Bittrex fail to register as a broker-dealer?

The SEC’s criminal complaint alleges the exchange failed to register as a broker-dealer, exchange, and clearing agency, taking in at least $1.3 billion in illicit revenue between 2017 and 2022. The lawsuit names Bittrex, Bittrex Global, and Bittrex co-founder and former CEO Bill Shihara.

Does Bittrex violate securities law?

The SEC has brought similar charges against fellow crypto exchanges Coinbase and Binance.US. The SEC further alleged that Bittrex directed crypto issuers to delete public statements that could suggest their tokens might violate securities law.