17.04.2023 18:54 Uhr, Quelle: Engadget

SEC charges crypto exchange Bittrex for violating US securities laws

The Securities and Exchange Commission has charged Bittrex and former CEO William Shihara with operating an unregistered securities exchange. In a complaint filed on Monday, the SEC alleges the crypto exchange, once one of the largest in the US, earned at least $1.3 billion in revenue between 2017 and 2022 while offering the services of a broker, exchange and clearing agency. It did so without registering with the Commission, in violation of federal law, the SEC alleges.Additionally, the SEC claims Bittrex “coordinated” with crypto issuers to delete “problematic statements” Shihara believed would prompt a regulator like the SEC to investigate the exchange. In one instance, the Commission states Shihara instructed a potential issuer to erase comments that referenced “price predictions” and “expectation of profit.”“Today’s action, yet again, makes plain that the crypto markets suffer from a lack of regulatory compliance, not a lack of regulatory clarit

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